Ann: New Contract Win and WA Govt ICT Services Panel Status, page-64

5 contracts in 4 months is not really 'trying' anymore, total value of over $2.5m, so maybe looking at 800-900k pa. Plus, we do not know the profit margin on their mgd services div, so there is certainly an unknown factor to be priced in.

Latest contract win was less than a month after the other so appears to be picking up pace. Even if we assume 12 contracts at $200k pa = $2.4 mill pa. But that's assuming the pace doesn't pick up, which given their capital investment in growing this division, might be a silly assumption.

Add to that, they are now looking at potential WA govt tender, plus chatter about an acquisition to speed up the growth. AANND TA is also setting up nicely.

I know I'd much rather be invested than trying to rubbish the stock just because I probably sold for a loss (even though I did earlier, but it still doesn't blind me to the value in CNW).