new perspective, page-26

Well its all about cash-flow- cash-flow in cash-flow out
When cash inflows exceed cash outflows this is generally good as there is more coming in than going out- I would have thought from recent result we are seeing more green stuff being produced and less seepage (cash outflow)

so given that there are 3 types of cash-flow

1) Operational cashflow

Cash received as result of business activity

2) Investment cash flows- cash received or spent through investment activities

3) Financing cashflows
cash received through debt or paid out as debt repayments

So MMA which part of their cash-flow do you see risk with forward growth

they currently have approx 13 millio in the bank- forward work of 141 million and at a 10 NPAT thats another 14 million NPAT in the bank in next financial year if things stay the same

therefore september quarter should show around 3.5 million NPAT OR ABOUT 1.7 EPS


2014 projects will come these guys are savvy- still think today its worth at least 5 times its PE multiple of 5.1c

gIVE THE BOYS SOME CERDIT FOR THOSE RESULTS- NOT MANY COMPANIES CAN BOAST THAT
MMM