The next quarterly report will be interesting. On my calculations they should make a profit of $700,000 from Component Homes.
The UAE factory making door frames is now "surpassing breakeven" which I gather to mean is marginally making money. They have changed strategy and are now acting as a sub contractor installing the door, frame, lock etc. Margins as a result have gone up 30%. Tenders for 26,000 and 70,000 frames have been submitted.
India should be profitable fairly early if they hit their predictions of 100,000 frames per year (breakeven 10,000).
Given they growth of the JV's, a profit from Component Homes, low market cap, and blue sky (Jordan) a re-rating can't be too far off?
JVG Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
