Ann: ITL Limited 2014/15 Results Update, page-2

Hmm. Not sure what to make of this one. I think if you believe management that everything they have reported today are genuinely one-off costs then it is extremely undervalued. Management have been buying back at 22.5c the last few months, so obviously they agree.

But what is the catalyst for SP rise? No volume in the stock, boring but safe products. They are looking at new business ventures, but is it worth the risk? Hard to say.

I see no reason to jump in straight away regardless. Will likely trade under 20c for a while now.