It is nice that they have stated they will not be using their 100 million debt facility for these already acquired centres. Seems like they've got their warchest and they're getting efficient at integrating new centres into the group (having done it with these 51, and previously with the initial portfolio).
The bounce on this news was pretty much awesome, really kicking myself for not topping up now!!
Very interested to see how the next part of this year unfolds. Wouldn't be surprised to see this back over $1.50
Ultimately though, I think this is still too cheap, the only real issue with it is that she don't pay a divvy yet.
Based on the 170 million shares on issue, and the projected profit of 3.8 million and a 65% payout - expecting dividend of about 6-7 cents. Any growth in earnings, or efficiences produced, then this figure could rise nicely. Add in further acquisitions, well... I dunno, I'm still fixed on this one as a long term income play.
AFJ Price at posting:
$1.22 Sentiment: Hold Disclosure: Held
