Was hoping for at least $2.2 but $2.1 is a massive change from last year and will take this as enough of a turnaround (about $2.5m I think) to stay on board. They have $2.4 in the bank and no debt which is a good sign. Interesting the comment about the COVID having no effect.
At $2.1 this gives a current P/E of around 8 when everything else in this space seems to be in the 15-30 P/E range.
This still represents CCG as being undervalued compared to market and I think it may head up if their strategies pay off. Will be interesting to see what they forecast for next FY. I think they need to do at least 2 M&As to get the right attention.
Interesting to see if they get any attention from the likes of UWL and ST1 who have been active with M&A.
Made me go back and look at other stocks in this space and compare P/Es.
MNF P/E 30+ OTW 30+ VOC 17 TEL 18 5G No P/E Vonex No P/E ST1 No P/E MAQ 60+ UWL 30+ OPC 20+
Peter McGrath looks to be earning his salary. I still think John McKay is not a good look even though he would get some credit here.
CCG Price at posting:
8.9¢ Sentiment: Hold Disclosure: Held
