FY22 underlying NPAT is $31m. They are targeting $55m cost savings in FY23. Plus if they get some extra sales say 10% (Rev 646m by 10% is $64m) at a GP of 50% then an extra $32m is earned. That's a total extra profit of $87m and say $61m after tax. Call it $50m to be a bit conservative and realistic. So NPAT would be around $83m for FY23. ($31m plus $50m).
Current Market Cap is $1.42B so that would be an FY23 PE of 17.
So the shares at $75 are probably reasonably priced considering the history of issues and risks going forward.
BKL Price at posting:
$73.19 Sentiment: Hold Disclosure: Not Held
