Ann: Q1 ARR $42.9m, confirms strong outlook, page-117

Wilsons have been negative on LVT ever since they missed out on being part of a cap raise about 18 months ago. Their analyst on the stock has no idea. I’ve got a research report from them valuing LVT at $0.41 from October 2017 and from memory they were saying $0.50 or so at one point after that. Back then the ARR was well under $10m. So two years later with the ARR over $40m the stock is worth half what it was when the ARR was under $10m. Yeah that makes sense - NOT!!

The other two brokers that cover it are worth listening to: Citi has a buy rating with a price target of $0.75 and Blue Ocean Equities has a buy rating with a price target of $0.80 and strategic target of $1.40.

Anyone relying on Wilsons for a view on LVT needs their head read!!