Just Energy Group Inc. (Canada) T.JE

Guidance

[tesh]

I would be a little concerned about their guidance - it was significantly off last year. JE states that their first qtr base EBITDA of $29.1 million is on track to hit their fiscal target of $220 million. This seems a little suspect. Although the first quarter is 53% above last year's base EBITDA it is about the same as fiscal 2012's first quarter of $28.6 million. The total base EBITDA for fiscal 2012 was about $193 million - a far cry from $220 million. Further, although their base funds from operations ($13.3 million) is higher than last year (which was a very poor quarter so improving on it is faint praise) the first quarter of the 2014 year is substantially less than  the base funds from operations in fiscal 2012 which hit $22.9 million.
Having said all that, Pattison's purchase of shares is truly significant. Anyone saying it is due to someone doing a favour for a friend simply doesn't know Jimmy Pattison. As others have posted he employs only the highest quality internal investment people. Jimmy may be renowned for his philanthropic activities but I can assure it does not include investing significant amounts of money in questionable businesses.