The reduced their carrying value for the adp plant from 21 Million to 3 it so they get 4 extra back.
Their contracting business is making good returns which is why I invested after their recent downgrade.
The contracting side is expected to earn approx 20 million this half (from long term contracts)and when you consider that the mc is presently only 9 million that's extroardinary.
As you say debt can now be reduced to $9 million and banks are on side.
The price can only go up. No wonder the directors are buying.
PBP Price at posting:
17.0¢ Sentiment: Hold Disclosure: Held
