The guidance given doesn't make any sense. I think it is a typo.
"The company also forecast higher net profit for the full year, compared with the first half of 2014..."
Of course a full year profit will be higher than a single half.
Also, the second half 2014 had a large positive one-off, and going forward CYC will have to pay tax on profits. I just can't work out what they are guiding towards.
From a valuation perspective it appears that operating cash flow for the full year will exceed $2 million, maybe around $2.5 million, so the the market cap is certainly undemanding, especially given the growth that should start to come through in 2016.
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