Adairs Limited reports excellent results
Adairs Limited reported excellent results for the first year half, growing sales and EBIT. This didn't stop the share market from dropping Adairs' shares by over 8%. Unless the market knows something we don’t know, Adairs shares appear undervalued, with 4.6% dividend yield - fully franked. The EBIT is just too good – the business should reinvest more of its profits, otherwise it will attract more competitors.