Mauro said that in FY18 he expects the company to be able to...

Mauro said that in FY18 he expects the company to be able to make the same profits as was expected at the time of IPO given same ships, same global customer base, same / improved senior management team and corporate governance, Asian demand growing as expected, shipping capacity utilisation is rising rapidly (more pricing power) and Australian cattle prices have started to fall. Morgans (broker of the float) had NPAT forecast of $60m in FY17 ($77m in FY18 but I believe that assumed Kelpie in operation for full year). That puts the stock on about 1x PE.