$6m [*] of EBIT on $60m of Sales (pcp = $5.58m EBIT on $54m of Sales)
That's 8% EBIT growth - all of it organic - despite all manner of headwinds:
- "continued price competition",
- adverse "sales mix"
- "exchange rate weakness" and
- plenty of costs being thrown at the business to support future growth
More than a satisfactory outcome, I think.
[*] And what's the wager that they in Feb next year report an EBIT figure a few % points north of $6m? (Problem is, even if they do beat their AGM guidance, at 20x P/E, 12.5x EV/EBITDA and <4% FCF yield, the stock ain't cheap. It's going to take a few years of 10%pa growth for the earnings to chew into the current full valuation multiples
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