Ann: FY16 Results Announcement-MAI.AX, page-3

Under forecast, low margin but trying to improve it by buying making acquisitions of higher margin businesses. Even admitted themselves the tech in the Australian business needs rationalising to try and improve margins.
Trading on around 19x forecast FY17 EV/EBITDA, compared with say DVA which beat forecasts and is trading at around 12.5x FY17 EV/EBITDA and that's after a takeover bid has been made.
MAI is exposed to some fast growing clients but so is DVA. I took the view it's too expensive for the moment and sold