its interesting, great result and the transformation of the business executed perfectly (can't fault the team)...a lot of historic acquisitions let to a load of ineffiency and ballooning business which needed to be controlled
They clearly said in the investor preso (worth a listen) that now the cost base has been reset, they are focusing on clients and strategy to grow the top line.
Further to be sitting on $90m of cash plus a further circa $50m coming in from the fidelity contract and combined with the strong op cash flow a business could launch a takeover and likely end up with surplus cash of $100m or so (look at seven group takeover of boral) played/timed it perfectly and ended up recouping a huge portion of their initial capital outlay for acquiring the business. I'm still adamant that if Shezad returns to Pinetree it will only be a matter of when not if - just my opinion, do your own research etc
BVS Price at posting:
$1.17 Sentiment: Buy Disclosure: Held
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