The lack of a dividend highlights that despite that management claim that integration plan is on track its still "work in progress" and the old PGC inheritance has come with a few headaches. Softness in the core market(Australia and an oversize state of the art production facility) which is a drain on cash in the past year.
Apart from that the proforma results and game plan looks good. In my opinion best to wait until the next years result are out. Still need to bed down and integrate a few segments and the Asian growth plan.
. Proforma revenue of $3.3 billion with a NPAT of $28.8million and should be able to eventually distribute a at least a 3% dividend.
Good luck to holders
PGC Price at posting:
41.0¢ Sentiment: Hold Disclosure: Held
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