Even if NPAT for FY21 is $30M, at the current SP we are at a P/E ratio of 30. Way too low for a growth business.
I think today was a major overreaction on 2 bases:
1. H1 announcement saw SP hit $22+
2. H2 guidance is still profit around 20-30% of H1, somewhere around $5M to $8M and the current SP is $8.70.
Fair value is around $13 to $14, just looking at the current SP relative to its H1 value.
Shorters, go for gold on Monday. Can't wait to see you burn.
Ann: May 2021 Business Update, page-100
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