Cash is King

On the 25th of August they reported holding $6.2M cash, no debt at June 30th. However since June 30th to August 25th cash reserves had increased to $57M. Course payments are now accelerating and analysts figures for 2016 look conservative now, if not underdone.

FY16F EBITDA – +80% to $90.2M.
FY16F EPSA - +79% to 75.1c.
FY16F dividend – 49cps (+22c)

13 cent fully franked dividend for FY 15 , Ex date is Sep 7th. Franked up is 18.5 cents .

Sector not without risk in terms of change in Government funding but risk/reward ratios are compelling