Ann: DSK 1H FY22 Announcement, page-74

Back to IPO prices.

EV is roughly $100m, NPAT anywhere between $15-$30m this year, even assuming we revert to pre-covid levels (let's say $10m profit), we're looking at a 10x EV/E. Growth looks alright, I thought we'd see significant tailwinds from Eroma but that was not to be.

I do find it interesting that they didn't give a Q3 update/guidance - I dislike companies reducing the amount of transparency they provide, particularly when the share price is falling, some reassurance would've been great for the market.

I doubt inflation is having much affect on Dusk in terms of cost of production relative to competitors (We're a much leaner business), however, the reduction in discretionary income for consumers will definitely be hurting sales.

No recent commentary around NZ expansion, likely isn't going as planned.

Not sure what to make of the current fundamentals, I still hold & it now makes up roughly 15% of my portfolio - I suspect I'll buy more if I get a better picture of how the business is tracking.