I doubled my holdings today to average down, now in for an average of 0.82c which I think is about right value for the company today, let alone in the future.
I read through the report and presentation last night, my points which lead me to my decision were:
- the sacrifice of profits on the smaller ventures (Bundll, hum pro etc) were significant and action has been taken to stop this leakage.
- Humm little things was also a big drain, glad to see NZ stopped.
- the board plan to mimic the commercial arm in NZ, brilliant.
- Humm big things is highly profitable and will be a main focus plus has limited competition.
- the loss from UK and Canada wasn't as bad as I thought (~$10m), personally I'd like to see at least the UK continue for big things.
- the company has a huge cash surplus and undrawn corporate debt facility, I'm expecting there to be takeover opportunities in the future
- plus Humm is still highly profitable even with all the profits being sacrificed as disclosed, which again action has been taken to close off the unprofitable lines.
- with interest rates increasing and people having less disposable income, this should push people into more debt and be a positive (on the condition bad debts remain in check, which management seem to have a tight control over)
I believe it's a real chance for $100m plus NPAT in the next 2-3 years which would be a multi bagger from here.
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Last
40.5¢ |
Change
-0.010(2.41%) |
Mkt cap ! $199.0M |
Open | High | Low | Value | Volume |
41.0¢ | 41.0¢ | 40.0¢ | $176.0K | 433.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 127296 | 40.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
41.0¢ | 68930 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 127296 | 0.405 |
11 | 532361 | 0.400 |
8 | 73495 | 0.395 |
7 | 91650 | 0.390 |
3 | 6400 | 0.385 |
Price($) | Vol. | No. |
---|---|---|
0.410 | 68930 | 4 |
0.415 | 116519 | 4 |
0.420 | 50524 | 6 |
0.425 | 10005 | 1 |
0.430 | 5569 | 4 |
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