hmmm npat for the year is $2m so presumably a big chunk of that...

hmmm npat for the year is $2m so presumably a big chunk of that cash flow is from working capital and therefore not sustainable.

Also, HY showed $1.4m npat including $0.8m compensation from equipment supplier. Presumably this is non-recurring and so underlying npat for the year is actually about $1.2m?

Finally, the following comment suggests next quarter might not be quite as good as this one.

"Similar to FY17, sales into the national retail chains are expected to be seasonally soft in Q1 FY18 as stock levels are being cleared..."

Still, they seem to be moving in the right direction and profits should keep rising simply from continuing to move away from contract brewing towards own craft brands but price looks a bit full to me.