I actually called the company as I thought it was to good to believe as well , and unfortunaely it is .
I was told they re paid about 400k of the debt repayments from the sale of Lifetime planning to Equity trustees , but also settled on the business they purchased with a large payment from this sale and cash flow.
From what I could gleam and they are tight lipped , the expectaion is around $20-25m revenue at a target EBIT of 12-15% , much higher than in previous year and better than I expected , mainly because of the strong dollar , the Integration of many of the businesses to proximate locations , dnd greater cross sale opportunitiesthat are arising almost daily
On the numbers I take from this at the bottom end
Say revenue is 22m Ebit is 12% $2.64m
I would of thought that a company growing its revenue at a rate of close to 100% should attract at least a PE of 12 , this is a market cap of $ $31m , take away the debt and discount it a bit so $25m isor $1 per share is not out of the quastion is 6-12 months as these figures come through
Will definately be going to the AGM again this year to congratulate the management team who under promised and are over delivering great results
PGC Price at posting:
40.0¢ Sentiment: LT Buy Disclosure: Held
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