KME 1.54% 32.0¢ kip mcgrath education centres limited

Ann: Results of Meeting, page-5

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    Observation about lead up to FY15 results is spot on. I remember thinking at the time that it was undervalued even in the 50s back then. Since then the underlying business has moved forward and the reasons for the share price/earnings falls are one-offs. I have it on <10x 2017 npat but could see earnings doubling over the coming decade especially if KipOnline gets traction. I feel that when they first launched it as well as not being written in html5, it was just too soon given internet speeds in Australia.
 
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