More I look at their report and presentation, the more rubbish I see. Waste of time really barely tells me anything of substance.
Very good at telling Revenue is up 10% and ebitda up 11% yet no reason given why NPAT not moved. Because depreciation is tracking in excess of 3 million for the full year...
finance cost up and tracking at well in excess of 2 million.
Last year ebitda margin was 9.2%, back down this half to 8.9%.
Let assume they have a good H2 and full year revenue is 115 million, that 59 million revenue in the 2nd half at a 9% ebitda margin that ebitda of 10.4 million a modest increase of 6% in ebitda.
10.4 less 3 million of D&A and 2 million of finance expense gives npbt of 5.4
5.4 less tax and we're looking at 3.8 million npat.
Well, that a dud full year forecast...
Obviously they haven't got to grips with the cost blow out. They probably should start by focusing on that.
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