Blew the doors off it?, page-41

61 million in the bank. No debt.

Net profit soared to $5.7 million in the six months ended December 31 from the year-earlier $300,000

Analysts expect net profits to reach $11.7 million this year.

Proforma earnings before interest tax depreciation and amortisation rose almost fivefold to $13.9 million from $3 million as sales rose 40 per cent to $144.9 million

A handy profit of $5.7 million on a pro-forma basis (which excludes IPO listing, capital raising and acquisition fees). That was up nearly 2,000% compared to the previous year.

The company says it expects double-digit revenue growth to continue, with strong gross profit margins. And while the company says it will focus on organic growth, it says there are opportunities for acquisitions to support the group’s strategy.

The company is aiming for $1 billion in revenues (roughly 3.5x annualised first half revenues) within 5 years.

Own 100% outright Surfdome, SWELL, Magicseaweed and Stab.

COMPLETELY OVERSOLD!!

The results were FANTASTIC! Once people digest what has happened here there will be a market correction. If anything, this should have risen above the open of $1.79.