Good pick up. Yes the float is now earnings around the 3% mark. Good pick up also on the after balance day note !!! Good to see investors reading an annual report inside out, well done. So with the $1.8m repatriated after balance date, cash in bank is over $20m
I think (assuming they sell Smartpass over the next 12 months) Buffet club will be king. I can see this division making $3m EBIT FY13 and perhaps $10m EBIT by FY14. Apparently the offering in China will be smartphone compatible whose business model will be a hybrid between Wotif (Hotels) and Entertainment Book (Restaurant vouchers). Doesn't take much imagination to see how a smart western run business model like this will make a bucket load in a country with 1bn people!!!
Hopefully management are quiet for a reason and we should hear something by the end of the year about its M&A activities.
Keep well and happy buying at these levels
TFL Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
