I am delighted with the results and I think Capral will go to a three and a half year high tomorrow.
The net tangible assets are 25.8c, the price earning ratio is 6.45 and the net cash is a massive $31.36m. In their forecast for next year, they did indicate that the housing commencements might be down by 7% but they still forecast an EBITDA of 19 to 22m compared to the EBITDA for 2016 of 21.1m . So next year should still be good too. They have accumulated tax losses of $286.569m which gives them potential tax benefit of $85.971m. They paid no tax on the 2016 profit and they shouldn't have to pay any tax for ages. We are getting a dividend of 1.25c from these results.
I reckon the share price will hit a new high tomorrow, maybe up to 24c or so.
Come on, Capral. It is my biggest holding these days.
GPASAS
CAA Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held
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