The underlying EBIT was higher in H2 than H1 so they don't necessarily need to sustain revenue to sustain profits. I think the market has already priced in a large reduction in profit as the ex-cash market cap is only $13m. Last year's underlying NPAT was $8m, so it's trading at a 1.6x multiple. If profit halved it would only be at a 3.2x multiple - not a stretch.
There's no debt now so that's a risk which has been removed from the business also.
Ann: Appendix 4E - Financial Report-RDG.AX, page-91
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Mkt cap ! $88.52M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 503210 | 2.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.5¢ | 34000 | 1 |
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