Reading the article makes for interesting reading. Just trying to marry the numbers however suggests that they paid more than usual. However I also think this management team is very much under promise and over deliver. It was trading on @ 20 / 22 PE do you think it will stay there or drop back a bit given that it has to digest these so growth is interesting.
I have looked at the Western Biomed Website - some big brands there and guess what a foothold into WA which we dont have. Designs for vision seem to have more small offices in every state and what looks like 2 roving people in NZ. Meditron is another that looks good. I think they have now covered most bases. There are even a few exports.
I tried reconciling those numbers to mine - The EPS is spot on before the acquisitions but the after I think they have put a bit of reserves into that calculation. I think they will do better!
So @20 its close to 90 something ... Maybe the Prada bag is going to be Firsova's pretty soon.
All this has come out of the exclusive report from the Australian that rl posted so a big thanks for that. really makes it easier to plan and decide.
Only one small negative - I hope that in future management will be able to place to shareholders and avoid the raising fees - we got scaled back from 1 for 3 to 1 for 5. I understand why but hope they trust us to give it to us in future - just give us a small underwriter fee rather than the 5% brokers charge.
PGC Price at posting:
67.0¢ Sentiment: None Disclosure: Held
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