Ann: AFL completes Watts McCray acquisition and Market Update, page-2

Just had a look at the presentation. I must be a bit slow but the LTMs, PCP, YTD and Pro Formas were all a bit confusing. For example, I am not sure if the new file openings for Jan 21 to May 21 were the business before WC or combined business for both periods......

In any event, slide 15 seems to indicate that there will be an "Underlying EBITDA" of around $2m for the year ending 30 June 2021. Even after interest (lease interest rather than bank interest), the depreciation and amortization of their web sites etc, tax expense and "non-recurring or unusual items" there should (hopefully) be a NPAT for the year ending 30 June 2021.

I wonder if a dividend might be forthcoming?

The integration of the WC business and AFL operations will be interesting. Hopefully going to plan.

Pretty wild trading day.

But all seems to be going in the right direction and AFL has not even "touched the edges" of the potential market - still less than 1%.

Cheers,

BSP

GLTAH, NFA, DYOR etc