It's amazing value, as far as I can tell... - Trading on a P/E less than 6 and < 4* cash flow! - Cash in bank of 6mil - No bank debt - 7% yield (unfranked) - ROE increased to 23% - Mostly selling to O/S markets and STILL making a profit, including the impacts from the AUD! (what happens when/if this falls...) - Management own a good portion of the company and have been in place for a while - Stable earnings - Just acquired a digital advertising company that only contributed 2months of the year to profits... meaning that all things being equal, this portion of profits should increase 6 times (granted that doesn't always happen).
The only downside I can see is that 10% of their revenue is from one client... But removing this revenue, you still trade on a really good P/E ratio!
...and the fact it's a 'media' company of sorts - and these seem to be completely ignored at the moment, due to Channel 7, 9 and Fairfax issues.
Thoughts anyone?
BYI Price at posting:
82.0¢ Sentiment: LT Buy Disclosure: Held
