where from here?, page-63

Result was certainly underwhelming, if they can hit the $5m for the year then we're back on track (to me this doesn't seem unrealistic given some of the emerging trends they mentioned), that's a PE of 15 with some clear earnings upside. If they surprise miss guidance again then bigger questions around credibility and competency will be in play.

I still like the pricing and long term outlook, but have enough exposure to this one for now (around 6% of portfolio) so will sit back for a while...