I'm not sure if its all good news. Looking at the segment breakdown it appears that sales in the US are probably well below what we were led to believe that Medivet would deliver. Given that the business has only just been acquired one has to question whether or not it was as good as previous management made out.
If, as I suspect, this has been a poor performer then I would guess that the Australian vet business hasn't performed well either. This leaves the old business - it must have performed very well. I disagree with imspartacus, i don't see contracts as being lumpy, i think that this business can turn into a steady accumlator of profits. it will be interesting to see what the company has planned. Maybe its time for a detailed investor presentation.
MLA Price at posting:
16.0¢ Sentiment: Sell Disclosure: Held