The risk on this has not changed in the slightest.
Having said that the underlying electrical business is trading well. If you can strip out the one-offs ie redundancy and the cost of the buyback and changes associated to the investment company status the results were much better than prior year. ie Revenue up +8.7%
Cash is still strong and cash backing (including investments) is > $0.72/share
Underlying EBITDA of the electrical business is around $5m (if not more which would value it > $25m or > $0.80/share
Full year dividends total $0.06/share equivalent to prior year (currently a 5.5% yield net of Franking credits)
If you listen to the press the mining cycle is picking up which will result in better revenues going forward.
The question I have to ask is why is Leanne becoming an Executive Director?
CMI Price at posting:
$1.10 Sentiment: Hold Disclosure: Held
