ASX:SDFInsurance
Steadfast Group (ASX:SDF) Shares Ride Takeover Hopes As Margins Tighten
Steadfast Group stock closed at A$5.83 on Wednesday after a strong run over the past quarter. The market has been trading the takeover story and headline multiples. The real story in these results is margin pressure. Trailing net profit margin sits at 12.4%, below last year’s 16.2%, even as underlying EBITA reached A$669.8m and underlying net profit after tax came in at A$319.5m.
For short term traders that squeeze matters. For longer term holders weighing a proposed A$6.00 per share scheme...