This is quite a mooted response by the market. The update was...

This is quite a mooted response by the market. The update was very positive given a backdrop of a shareprice declining to 21cents from 27cents.
With a quarter to go they are in line to report eps of 3.8cps this year. Simply putting the stock on 12 times implies a shareprice of 45c.
The company is generating FCF and positioned to pay down debt and IMO should take priority over a dividend.
Management seemed better prepared to integrate any acquisition but i would not be excited to see a flurry of acquisitions that make integration difficult. Hopefully the lessons of the past have been learnt and perhaps a bit more due diligence and anti compete clauses on the target to avoid the repeat of the WA acquisition which now resides in the Court system.