Yeah I did Mazey, and they hold up pretty well IMHO. The profit after tax was about $2.5 million from memory, and the revenue has been consistently up quarter after quarter.
I still own NNW, and think it is also a good longer term proposition. Ofpay seems like a good acquisition but may take some time to repay, since the price was substantial.
Though it has a lot of shares outstanding, not many of them can be traded because Amalisia and her associates own most of them, so the free float is actually quite small, which means that it can rise very quickly if the market takes to it.
We may see it dip into buy territory again nearer the EOFY, and then rise steadily in the second half of the year as Ofpay is integrated. The market still doesn't particularly like Chinese based stocks, but with the increasing number now being listed on the ASX it will need to acknowledge them at some stage I expect.
This stock has always been one for the longer term in my opinion, and I don't think that has changed as yet. It is interesting to watch, and I was pleasantly surprised with the rise in price the last time Amalisia was in Sydney and at presentations, somebody was impressed, which is a good thing.
All the best,
Gw
NNW Price at posting:
15.0¢ Sentiment: Hold Disclosure: Held
