Good result, particularly on the back of what was a tough year and one that created regulatory/subsidy uncertainty for parents and undermined enrolments.
I have a strong feeling now that we may not see sub-$1 SP again and with a few acquisitions in CY19 MFD may close the multiple gap that has traditionally been at play relative to TNK/G8 in the Childcare sector. MFD has consistently been an underpriced small cap in the space and generally.
Ann: Investor Presentation Full Year Results, page-8
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