The market has been factoring in a deteriorating performance with a very low SP. Todays update confirms they have put the ship back on course. FY results will be about 25% below last year with the very major difference being last year they had $90m debt pre IPO, now they have about $10m cash and no debt.
A $60m market cap for a $21m EBITDA (there is no I for interest due) with a growing business represents a compelling buy IMO.
As of this winter they are entering into new business with Coles and Woolworths and suppling the entire range of infant/toddler apparel range for the toys r us chain in Japan - some 100 stores I believe.
Buy Time
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