If PGC do exceed $30m revenue if 14/15 and operate at grater than 10% EBIT margin it is not expensive , shame it has taken so many to realize the underlying value
15/16 now seems to be the next measurement of any further catch up on valuation
One additional acquisition from the Westpac loan and a further jump in revenue both organic and via further consolidation of a cottage industry should see $50 million revenue and the 15% ebit margin Shane Tanner spoke of several years ago become a reality
If this occurs , as current momentum suggests it may , we really should be looking at $1.00 target within 12-18 months .
The risk is if the second half of 14/15 slows and we dont see in excess of $30m revenue
PGC Price at posting:
46.0¢ Sentiment: Hold Disclosure: Held
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