back in profit

Good to see the Chairmans address/presentation included some reference to the company being back in profit and returning to revenue growth again .

Also good to see 50% of the shares voted in favour of resolutions and almost none against

The forecast numbers look much better than I expected .

The 2011/12 actuals showed a small loss and were a bit dispaointing , admitedly they did need to bed down 5 acquisitions and restructure the business units to a central location which costs money to save money.

At 20c the current market cap of $6.6m now looks cheap , and I will try buy a few more .

The positve points for me coming out of the meeting and presentation announcment were

1. 2014 they are looking to start paying dividends
2. The company is back again in Revenue Growth (1m 2009,up to 9m 2010 , up to 16 m 2011 , DOWN TO 15 2012 , now up again to 17m in 2013 )
3 The NPAT forecast over $1m is on improved gross margins (44% )
4 It appears the cost of restructure has improved the ongoing Expense line
5 The Debt is reduced by nealry 2m
6 They recognise a need to to get more business from NSW and Queensland not just Victoria
7 They are adding IP to the equation through their own manafactruring arm

There is a lot of small companies on the asx , but there is very few on the ASX in a sector like health care that we all know needs money spent on it , that have almost $20m in revenue , are growing , and make over $1m yet still have a market cap of $6m .