I haven't been through the details, so I don't know if that's a fair assessment. At first glance it looks reasonable. Certainly parts of the business do look a bit sluggish. Two things caught my eye : PSD July performance in line with expectations (rebranded S&G Solutions - good thinking), and EBITDA f/c up from 102m in FY15 to 205m in FY16. [Actually given as EBITDAW where W is mvt in WIP]. There's exch rate risk etc in there, but EBITDA up ~100% is a pretty handy looking f/c. I'm happy that this is a good solid step towards a re-rating. Next is the ASIC report.
SGH Price at posting:
$3.19 Sentiment: Buy Disclosure: Held
HotCopper & The Market Online will be live From the Floor at the Mining News Select Conference and we want to bring the voice of our online audience to the show with us.