Originally Posted by
MickG0105
Rex
FY23 Results. A statutory profit (that is correct, profit) after tax of $14.4 million.
In a master-stroke of creative accounting they decided that NJE, a business that they paid $48.18 million for, is worth $142.673 million (that is despite them having previously valued NJE at $77.645 million back in December 2022).
Fernangling aside, they lost $31.7 million. Passenger revenues collapsed by over 8.5 percent in the six months to 30 June.
Worth noting too that the NJE "fair value gain" of $44.5 million came despite the unit contributing losses of $6.3 million to the bottom line.
I want some of what they're smoking.