I am quietly confident that EPS is going to get a big kick (even...

I am quietly confident that EPS is going to get a big kick (even with no growth) this year. NPAT was $20.6m giving the 4.2c EPS (493m shares), but what this didn't take into account was the reduction in net borrowings of $23.3m and increase in free cash flow - refer page 9 of the annual report.

This is fairly critical in my analysis, because if you simply look at the headline numbers comparison between F15 and FY16 you see a 22% reduction in EPS (5.4c to 4.2c), however over the same period the the operating cash flow has increased by 45% ($30m to 43.5m) - because of the reduction in borrowings this doesn't come through in the headline numbers.

Right now CCV have $80m in cash with borrowings of $107m - which to me seems to be a very comfortable position. Then you add in the previously discussed wins with MACC and green light auto and I think we have a very stable base to spring from. All IMO, I think EPS of >6c is not out of the picture for FY17, which means DPS of >2c are also not out of the picture for FY17 - which means a SP of around 80-90c is well and truly on the cards.