GLB results for 2022 released, not surprisingly the incredible positive impacts on the business from Covid have dissipated and there is a fair reversion to the mean! Will be interesting to see how the SP holds, they did maintain the divvy at the same rate.
As explained in the annual report, as well as the expected downturn, other factors impacted cash flow and earnings, including inventory build, property purchase and extra tax liabilities. The outlook from the board was muted, clearly expecting continued headwinds in the short term and telegraphing a likely drop in dividends for 2023.
When looking thru the last 3 or 4 years of results its clear there is still a fair growth pathway allowing for the aberration of 2021, I am sure the market will react negatively, but I am happy to continue to be the part owner of what I consider a good little business.