$5.1m 9 month profit!

Hi guys

Reading the Investor Presentation and in section 6 it outlines profit performance this fin year to Mar 30 as $5.1m. (unaudited)

Some quick calculations... approx 195mill shares, and based on conservative est of $6m full year profit, ABQ has EPS of 3c.

3c!!!!! Current SP of 8c means trading on a PE of 2.66x.

In Jan they paid div of 0.5c, which at current prices is 6.25% yield.

Preso also outlines vision of vertical integration, balance sheet re-structure for LT growth, board review etc.

IMHO these are bargain basement prices if they continue with profit figures at these levels.

The preso is well worth a read, link below:
http://www.asx.com.au/asxpdf/20100520/pdf/31qffl1ctln4n3.pdf

cheers