Still looks one of the best value plays in the mining service...

Still looks one of the best value plays in the mining service sector based on forward projections even allowing for a modest ROE.


$ in millions, cents
FY09 FY10 FY11E FY12E FY13E
Revenue 239 253 271 305 340
EBITDA 18 12 24 28 32
EBITDA Margin 7.5% 4.6% 8.8% 9.1% 9.5%
EBIT 11 4 16 21 25
EBIT Margin 4.5% 1.6% 5.9% 6.9% 7.4%
NPAT 9 3 9 15 18
EPS (A$) 0.18 0.05 0.14 0.23 0.27
EPS Growth -43.3% -70.7% 164.2% 64.3% 17.4%
DPS (A$) 0.00 0.03 0.06 0.08 0.10
Div. Yield 0.0% 5.2% 7.4% 10.7% 12.8%
ND/ND+E 29.7%
Source:Bloomberg