I was impressed by the presentation. They are spending money to reduce costs and upgrade equipment, as well as expand the product range. I had been thinking of selling as I saw this as a stagnant business, but it seems to have been given a new lease of life by the HWB takeover.
Looks to me with full year (an extra 2 months) from HWB and further expansion of the old business, this year's underlying profit could rise 10% from 4.5 cps to 5 cps and the dividend from 3 cps to 3.5 cps. That suggests 50 cps is a reasonable price target with a PE of 10 and fully franked yield of 7%. Moreover with little debt they can look at further expansion either organic or by takeover and continued growth next year.
A solid, high dividend paying, company, even if consumer spending slows. Happy to hold now.
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Last
8.8¢ |
Change
0.002(2.33%) |
Mkt cap ! $15.00M |
Open | High | Low | Value | Volume |
8.7¢ | 8.8¢ | 8.5¢ | $14.25K | 163.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 11379 | 8.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
8.8¢ | 63229 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 11379 | 0.087 |
2 | 10943 | 0.085 |
1 | 10743 | 0.083 |
2 | 36596 | 0.082 |
2 | 62471 | 0.081 |
Price($) | Vol. | No. |
---|---|---|
0.088 | 63229 | 1 |
0.090 | 94752 | 3 |
0.095 | 32280 | 2 |
0.096 | 99273 | 1 |
0.097 | 103092 | 1 |
Last trade - 15.41pm 23/08/2024 (20 minute delay) ? |
PTL (ASX) Chart |
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