acquisition gives nearly 8 cents eps growth

Well done Mick and the team.

At an EBITDA of $17 mil that is nearly 8 cents per share! If you shave off say 2 cents for interest, that leaves us looking at a prospective EPS for 2014 of 32-33 cents, PE of 7.5!!.

It's going to be an interesting few weeks from here for SKE's SP. With this acquisition analysts will have to go back and revisit their projections and they will find two things
a) This is a good deal for future earnings of SKE
b) Given the reaffirmation by Mick that business is still OK (some swings and roundabouts, high margin business growing, low margin business subdued) sentiment could very well change and the business will be viewed more like PRG, than like a mining services company (SKE services some of the mining industry, but is not a "mining services"company)