Present market cap $68m Forecast EBITA this fin yr $14-20m (from Sept update)
from ann rep deprec + ammort $500k (2007), carried fwd losses $3.8m
So forecast net profit $11m-$15m
Even on a modest PE of 10 this puts a market cap of $110-150m This is double the present market cap, and the company has stated that the bulk of the forecast EBITA will come from the 2nd half of FY2008. So FY2009 has to be looking close to double this!
Also a PE of 10 is very conservative for an industrial company with this much growth.
No wonder they have received "a confidential preliminary approach from a private equity firm" (from sept update) nb this was then called a "conditional approach..." on a sept 28 asx release.
MTM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
