BAL profit upgrade to come, page-51

A2M has had supply issues this half along with the plethora of regulatory issues in China and still beats guidance. Imagine what it's capable of doing if it had a clear run and could meet demand.

I have a relative in China and after what they told me last month I topped up 75,000 A2M shares @$1.60 (before it got smashed). BAL is still my larger holding. A2M's EBITA is now forecast to be higher than BAL (AUD$49-51m vs $43-47m), so finally it can justify a higher market cap. They will easily surpass $500m revenue and north of $80m EBITA in FY17.

For BAL, FY16 I'm predicting $270-275m revenue and $39m NPAT (20% margin).