Sure, as a I noted, on a look-back basis the business looks very cheap. However, you need to put the 0.95 cps EBIT into perspective.
In FY22, HwB did $6.5m in 10 months (to be conservative say, $7.5m for full year). So the business went from $7.5m EBIT to $2.4m EBIT between FY22 and 23.
So, it looks like as the Covid lockdown-induced tailwinds wear off, this business will have its work cut out to arrest the decline in performance and ensure that the 0.95 cps EBIT is sustainable.
I do not know the industry well enough to be willing to make a call as to whether it can do this.
Ann: Investor presentation, page-18
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Mkt cap ! $34.09M | |||
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