Interesting to see the company report after hours!
While EBITDA has come in as forecast at between $13 and $14m, let's not forget it is down $6m on last year, hardly an achievement.
The company continues to say the telco part of its business 'is a very important part of its offering'. So tell me why they are allowing its telco EBITDA to fall year after year when we see the likes of M2, TPG and iiNet growing strongly?
All the investment in data centres, when will it pay off? I make it $133m of capex in the 3 years by the the end of FY14 and very little to show for it? Hosting revenue barely inching ahead in the last couple of years. And the dividend is being funded by debt (as they are in a net debt position now).
Only a small holding now, living on a wing and a prayer ....
MAQ Price at posting:
$8.37 Sentiment: None Disclosure: Held
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(20min delay)