aus convey value at least $150mln or 46cps

Feel free to comment on my latest valuation guys. This applies to MBE's Convey division in Australia only.

That is the economy of scale, if MBE can maintain the same Net Profit Margin, the bottom line number magnifies by a significant amount as show by above analysis.

In regard to M-Marketing/Advertising divsion, revenue increased 41.7% for HY2013 ($2.264m vs $1.6m). NPBT also improved significantly from a loss of $219k to $26k (almost break-even). I expect this unit to become profitable from current second half year as revenue improves further as demonstrate by its capability and recent announcement that the new Advertising contract already shows significant revenue growth for FY14/15.