you're right. the company should be called Spicers group limited...

you're right.
the company should be called Spicers group limited because of the successful restructuring program and by asx listing law it's a must to provide market updates. Imo.

anyhow I think the upcoming meeting will be very positive because who knows the deep pockets are throwing some goodies.

I believe the company is significant undervalued and its growth outlook is NOT that bad.

if you look at the history of its operating cash flow then I can say the company is returning to positive cash flow.

The australia division has been slowing down extremely fast but it's NOT dead just yet.
When you see the Australia Office company is on the verge of collapse then I would say it's the end for Spicers but it's on cloud nine for my factory in the other end.

Melbourne and Sydney are education states. There're flood of migrants and students.
why Asia division has been doing so well. it's very simple. they're education countries. They use papers more than toilet papers.

the most important thing is within graphic art industry. yes I agree it's nowhere close to previous years and why the company is starting to make profits albeit the tiny bits.


market cap 62.89M @ $0.0299
ordinary shares 2,096,600,000
Operating cash flow 6,289M
net debt 2.042M
revenue 380.7M

NPAT 1.7M @ $0.0008
net tangible 105M @ $0.05
retain earning after the restructuring program
209M @ $0.099
cash 29,928M @ $0.0143

decrease in inventories 14,766,000
increase in trade & payable 21,006,000

cash backing value alone (cash plus NPAT )
$0.015

the current price at $0.03 is no where closed to its tangible assets and retained earning.

normally papers are being held at warehouses for immediate deliveres. The decrease in inventories show me there are demands for its products.

papers are cash. they're charged with interested and fees if left unattended in warehouses. once they're delivered then I know the company is starting to make bumper profits because those assets are not valued on the market.

This is the time for the company to look for more acquisitions to improve its earnings as the company is now in a very stable footing.
If the company wants to do it then the deep pockets are happy to give.