Great result from Shaun and the team. However PakWheels growth appears to have stalled, while Zameen continues to chug along at 80%+ growth per annum. Have bought in following the results and a number of slides which suggest the company is very undervalued by the market.
They also appear to be flying well and truly under the radar on the ASX and clearly by the lack of comments on HC not much interest from retail. As above they look exceptionally underrated in my very humble opinion after spending yesterday doing a decent amount due diligence.
I like the story of the business and I like the guy leading the company, he has a hell of a track record as can be seen below:
The company has consistently grown since IPO in 2016 at 0.50cents, yet the share price is now below the IPO price, despite FDV's share of total revenue rising from $1.6m in 2015 to $14.4m in 2018. That means their share of revenues has grown 9 times.
They've also acquired more businesses.
The standout businesses seem to be:
TechAfrica which grew 7,000% y/y off a small base. Infocasas which grew 107% y/y Zameen - their biggest investment grew at 81% y/y, nearly doubling revenues on their property site 12.3m to 22.4m.
Regards
FDV Price at posting:
47.5¢ Sentiment: Buy Disclosure: Held
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