Ann: Change of Director's Interest Notice x2, page-44

You will me happy to learn that Management surprised on the up side.

I guessed revenues of $85.4m would deliver NPAT of $6.9m but our lean and mean management team managed to deliver a NPAT of $8 from revenues of $86.2m when all the other players in the sector were struggling with profits and revenues falling.

As we all know sharemarkets crashed in 2021 and the sector average PE ratio of 35 along with the share price target of 70c left the room and the higher NPAT of $8,034,030 delivered a share price of 40c at a PE ratio of 13.9

Share markets fell further when the Russian war broke out in 2022 and the NPAT of $10,217.956 ,after writing off a potential bad debt of $4m, was rewarded with a share price of 40c at a PE ratio of 10.9.

The $14.2m operating profit in a normal market with a growth weighted PE ratio of 35 would deliver a SP of
$1.79

Lets hope the reserve bank holds the interest rates and the Russian war fizzles out in time for the 2023 result to be properly rewarded and all the nonsense about management being responsible for the miserable share price is put to rest.

Nice to see the talk about property prices falling this year being replaced by talk about them rising. Can't wait for the "Stock markets set to rise" headline.

Didn't Graziano Malone say he was hoping to sell 120k units in 2023. I wonder how my 117,000 unit sold share price Target of $4 guess column would play out. Probably a bit ambitious because a lot of those sales are sure to be flat packs.

Multi bags coming soon to this space.