Ann: Capral Half Year Results Presentation, page-23

Bit of excitement with SP rising from $ 8.00 to 8.40 since the beginning of SBB two weeks ago on 1/8/23.
( that was quick).

liquidity has disappeared since the initiative of BB took place, the XJO has declined by 2% while SP has gone up by 5%

Few numbers to consider
M/C 148M
CASH on hand 41.2m
EV 148m - 41.2m =. 107M

NTA per share is $ 9.44
1/2 FY EBITDA 31,2M EBIT of 2O.7M, profit is 16.6m EPS for HY is 0.96pc Imagine annualized.

the current dividend is 70cps annually, meanwhile, EPS is around 1.80 per share.
with Share BB pushing SP higher one may assume that due to lack of liquidity, another opportunity for capital management will arise
with the lifting of dividends from 20c +50c = 70cps annually to a total payout of 90c PS which is around 50% of payout ratio.

with 18m shares in total, every 10c extra in DIV payout amounts to $1.8m, not much considering the current payout ratio is around 40%.
and FY profit is around 32m with 41m in cash.

plenty of cash to invest in a small accretive acquisition on top of the capital return.

overall good times