Using NPAT for FY19 is misleading due to the annual amortisation charges of Mission Providence’ intangibles and accelerated dep’n charges on all the new PPE. All accounting journals.
Based on current forecasts they are trading on ~ 3 x FY19 EBITDA. It doesn’t come any cheaper. The stock is mispriced.
Using NPAT for FY19 is misleading due to the annual amortisation...
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