Ann: FY2021 Half Year Results Investor Presentation, page-3

Not sure why MAH is being punished so much. Even when you back out the tax benefits it has an eps of around 1c for the half. The 2H forecast is similar to the first, therefore annual underlying eps for FY21 should be around 2c. So that's a PE of 11 - which in my book is pretty good. Particularly when there is potential growth, some chance of big contract wins and the economy and mining is pushing forward on infrastructure and development. The nature of the business requires capital investment but that has already been taken into account with low PE's for these type of businesses. In terms of share price appreciation, financial results alone won't do it, we will need a large contract win announcement.