There was around 900,000 shares traded about a week ago in a cross trade from the same broker .
Certainly looks as though the selling pressure has abated with only 4 sellers on the screen up to 30c .
Hopefully the December half year is towards the top end of the profit upgrade forecast in the Chair mans AGM report
Forecast
Revenue $16-17 million EBIT $1m to $1.5m NPAT $ 0.7m to $ 1.2 m
The most important number to me is the EBIT number and for it to show the company is back in double digit growth .
If they can do this and come close to the $ 1.5 million number at the top end of the forecast, the market cap at today's 22c close is only 4 times that number
Usually a company the market believes is in growth attracts up to 20 times
Unfortunately in this case , I dont think the market is yet to believe they can or will continue to grow their revenues , EBIT, and NPAT in the manner the chair forecast .
I think the false start and significant slowdown in growth in 2011/12 that saw the stock drop from 40 to 20 is still overhanging the stock .
Just my opinion
PGC Price at posting:
22.0¢ Sentiment: LT Buy Disclosure: Held
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