Ann: Third Quarter Market Update, page-4

Agree Rothbard, things are looking up. The business looks well placed and should grow from here.
Two concerns I have are that I expect we’re going to take a hit in the form of a penalty relating to the fatal accident late last year. Next financial year I guess. Hopefully by then we’ll be so profitable we won’t notice it so much! Secondly, I’m a bit worried about the debt level. I doubt we will reduce it much through profits, as we’ll likely need to fund interstate expansion. If we’re stuck carrying the debt for some time, that could hurt us a bit as interest rates rise.
Still, I fully agree that the positives greatly outweigh the negatives at the moment. The coming growth looks quite natural and intrinsic. And if it indeed comes through, then yes, the share price looks undervalued, and by quite a bit. Tessa is encouraged enough to order a choice bone from the butcher for her celebratory dinner this evening.