Well, that works out to EBIT of around $5.6m for the current half, compared to my expectation of $5.2m in February ( https://hotcopper.com.au/posts/31381474/single), so the business is chugging along OK.
Certainly well enough, and with enough tailwind, to justify something a little higher than a prospective FY2019 P/E valuation multiple between 7.0x and 7.5x, I would have thought, even after this month's 15%-odd share price move.
The kind of business that hits a sweet spot in two years out of every six.
My sense is we are in the early phases of that sweet spot.
LGD Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held
