MBE does it again!

Well thank goodness Thorpey has put us out of our misery to reveal some very impressive numbers which are generally in line with expectations.

*$60 mil + turnover, up from $33 mil
*$9 mil + EBITDA, up from $5.09 mil
*$44 mil for 3/4 yr, up 93%
*3rd 1/4 $16 mil, up 93%
*EBITDA to Q3 of $6.7 mil, up a lovely 179%
*Q3 EBITDA of $2.6 mil, up 271%, nice.

They point out the 3rd quarter is traditionally slow and has delivered some rock solid numbers. Despite thgis they will still deliver over $60 mil turnover and $9 mil + EBITDA. And Thorpey always over delivers so late $9's or early $10's is not out of the question.

So lets crunch our EPS numbers based on $9 mil.

$9 mil x 0.7 = $6.3 mil/396 mil shares = 1.6c EPS (up from 0.8c) x 26 (industry average) = 42c SP

Next FY est 3c EPS x 26 = 78c SP

"With the planned expansion of our global telco partners to 30 in the coming year, international revenues will accelerate."

"Global average customer acquisition cost has reduced by 23%." This is significant and you can also see proof their employment costs are flatlining compared to their revenue which is going to lift margins OS swiftly from 15.4%.

"Global subscriber numbers have increased in excess of 100% during FY16."

"Across both businesses we are witnessing excellent organic growth, reducing customer acquisition costs, increasing client partner retention rates together with growing customer lifetime values."

As you can see Thorpey is rolling out his global business plan with reduced costs and accelerating revenues north of 93% which is very satisfying given their OS model is going extremely well.

Their EPS is going to double this FY IMO which is what I've been banging on about with a very high likelihood of this being replicated to 3c EPS minimum next FY which starts in 2 months based on their expansion to 30 telco's.

Can someone please explain to me how the SP is anywhere near 35c? To be able to buy a stock which is barely valued at this FY's multiple with no premium for next is quite extraordinary IMO.

Well done to the management for yet another beautiful set of numbers.