I've always been dubious about this company with the main concern being that revenue isn't that high and it doesn't take much for profit to be eroded - e.g. margin pressure, etc.
Valuaton is still sky-high at $175m. Only $7m EBITDA in the first half. So they're expecting $20-25m EBITDA in the second half. Looks very unrealistic given the first half performance. At a glance, fair value looks to be south of $1, IMO. There's a very high chance of a downgrade in the second half and I'd say it's almost inevitable. The forecast reminds me of one from YOW a while ago where they maintained FY forecast into the 3rd quarter and were banking on a miracle to end the FY - which obviously never eventuated.
