Ann: AGM Presentation, page-10

Recession proof sector with future growth built in due to ageing demographic and growing healthcare budget, funded by governments and increasing health insurance premiums. Lots of room for Paragon to expand their footprint especially with international reach into SE Asia. They spent a few years buying complementary business and integrating them under the Paragon banner, but EPS never really improved due to costs associated with getting these business all functioning as one. They've now hit a critical mass, have a lot of the components running from a single new facility, and the new MD is finally just gonna focus on getting it all running smoothly and allowing organic growth. The immunolab business should add significant upside, with most development costs already paid but none of the benefits taken into account in the share price. I don't think a 5c EPS is out of the question by, say, 2025, and and P/E of 15 would put PGC up around 75 cents. I am massively over invested in PGC with an average in the high 20s, so on paper I've been a bui grumpy lately, but I'm not worried about my long term investment at all given recent progress.