There are always only a few shareholders present - this year was no different with four shareholders making the pilgramage. Shareholders were outnumbered by the directors and managers of the company. It was great to be able to have a chat before and after with both staff, management and shareholders.
I’m hoping the company can do $13.5M of sales this year, which would be 50% up on FY2013. This will set the stage for FY2018 and possibly beating their record of $14.8M in sales made during FY2015. This should be a symbolic point of leaving the past behind.
The average exchange rate has been 1 AUD = USD 0.755 this FY, which is up on FY2016 and will boost margins.
I’m tipping the larger profits of $1M+ will come when they can make an acquisition or two down the track and strip out the overheads.
MLA Price at posting:
4.6¢ Sentiment: Buy Disclosure: Held
