Not a great run I agree if you had invested in MCP. I have just been watching.
PWC signed off on a strong balance sheet with $78M of intangibles at 30 June 2023, however based on their full year results, I am not sure how? The market cap in total is only $56M. MCP operating cash flows, if you include lease repayment was only $2.7M - for the whole year. I will wait on the side lines for the signs of the expected uplift, as the intangibles value is justified on future cash flows - but I am losing trust in PWC and MCP. I previously thought after the FY24 results that PWC had some insight that the market did not, I am now questioning this after the second half FY23 results and cash flows.
This half up to Christmas is a very important one for MCP, hopefully they have turned the corner - otherwise I will save my time and look elsewhere.
MCP Price at posting:
39.0¢ Sentiment: Buy Disclosure: Not Held
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