I actually called the company as I thought it was to good to believe as well , and unfortunaely it is .
I was told they re paid about 400k of the debt repayments from the sale of Lifetime planning to Equity trustees , but also settled on the business they purchased with a large payment from this sale and cash flow.
From what I could gleam and they are tight lipped , the expectaion is around $20-25m revenue at a target EBIT of 12-15% , much higher than in previous year and better than I expected , mainly because of the strong dollar , the Integration of many of the businesses to proximate locations , dnd greater cross sale opportunitiesthat are arising almost daily
On the numbers I take from this at the bottom end
Say
revenue is 22m
Ebit is 12% $2.64m
I would of thought that a company growing its revenue at a rate of close to 100% should attract at least a PE of 12 , this is a market cap of $ $31m , take away the debt and discount it a bit so $25m isor $1 per share is not out of the quastion is 6-12 months as these figures come through
Will definately be going to the AGM again this year to congratulate the management team who under promised and are over delivering great results
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