Ann: VALMEC GROWS RECURRING REVENUE, page-3

Yes I was worried that taking a head contractor John Holland to court might reduce contract flow, so good to see more contracts.

If revenue was running at last year's rate in the first quarter at around $25 million and they now have an order book of $70 million (though some will be in out years), then the significant increase expected in orders in the next 2 quarters should lift revenue this year well above last year's revenue of $103 million and also push NPAT this year over $4 million. That puts us on a PE of 8 at most at the current share price.  They should surely be able to start paying dividends once the court case is settled.