Ann: LaserBond Expands to Queensland, page-6

I could not help myself, I want to try and figure out how QSP go from a revenue of $3.5 mill to a NPAT of $1.1 mill. They are in a similar industry so I am considering some of Laserbond margins/%'s. I hope this is a pink lady v red delicious comparison rather than a pink lady v lady finger banana effort.

Revenue $3.5 mill
COGS -$1.75 mill (Laserbond has been around the 50% figure last couple of years). QSP might be able to hit better figures.
Gross Profit $1.75 mill
Employee & Admin Expenses -$500k (Laserbond's employee & admin expenses is typically 20-25% of revenue. These guys are private, probably not looking to grow etc so I took 15%).
Advertising/R&D/Finance Costs $0
It only allows D&A, Repairs & Maintenance to sit at $150k to get to the $1.1 mill NPAT.

Also I took a look at the property on realestate.com.au being very ambitious that we might be getting the property. 74 High Road, Bethania, Qld 4205 - realestate.com.au The place looks like it was sold for $1.5mill in April this year so even if QSP owned it prior, I am guessing its a leased facility now.