Ann: Konekt Trading Update, page-48

in my opinion if the results come in at the mid point average guidance and provide some kind of clarity on stabilising NSW RTW (or management's strategic response to the RTW market) we should start to see the price trading on a more realistic multiple. The current valuation metrics are absurd on ~ 3x FY19 EBITDA. Cannot fathom any realistic scenario in the reports to justify this price.

Will reluctantly stand corrected on Friday if something catastrophic does come out, but am not creative enough to think what that mIght be.