It was a very sound result and BSA appears very attractively priced. It is consistent with the strong run up in price that has occurred since mid 2010. Many industrials have been hammered in share price since reporting and hence BSA holding its own has not been a bad performance.
There is low liquidity in this stock and hence it takes very little to move it around.
BSA has a market cap of $69 million and is at a bit of a crossroads. If it continues its growth path and exceeds $100m market cap then it will gain increasing attention. As long as this is the right sort of growth then shareholders will be well rewarded. The other alternative is that it may prove an attractive takeover target for one of the listed giants.
Either way I am very happy to hold and pick up an attractive dividend while this business grows.
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