AZJ has recognised an A$526m impairment to its Bulk assets, and continues its Inter-modal review.
AZJ noted continues to face challenging market conditions and we feel investor sentiment will be negative leading into the FY17 results on 14 August 2017.
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AZJ has previously guided towards FY17 EBIT within A$800-850m range.
Regular viewers of the ASX top 50 video market report, will recognise AZJ as a stock we’ve been warning about, in 2017. Our concern relates to the sustainability of the high dividend payout ratio and the probability of the company being forced to announce a cut at the August result.
