assuming no surprises from underlying to statutory results I am quite happy with this.
The EV is only 21.6M so assuming we can get an annual EBITDA of ~8-9M we are talking about a 2.5x multiple for a debt free retailer at cyclical low earnings. I see potential for both earnings and multiple expansion here which could really drive a share price recovery.
the like for like sales growth in this environment is impressive.