Ann: Managed Service Contract with Crown Entertainment, page-23

Sure it would be nice if margins were larger, however at the end of the day Market Cap will be a reflection of NPAT. If they can squeeze $3M NPAT from $100M revenue, I'd be okay with that. Using the $3m work out how much capital would you need in bonds yielding 5% to make $3M? ($60M!) That gives you a ballpark idea of what this company could be worth in the longer term. Of course, running a low margin business is risky, so you need to discount the value accordingly; however, it's still maybe double the current market cap.
Also if revenue keeps building the market cap will increase accordingly and also the goodwill becomes a factor as its worth more to a bigger fish wanting to grow or just wanting to take a competitor.
So I'm pleased to own this business right now even with the low margins.