The balance sheet is extremely healthy. There is a debt facility...

The balance sheet is extremely healthy. There is a debt facility that came with the GJD acquisition, looks like they have already been paying it down. The current ratio (Cash + Receivables: Payables + Short-Term Liabilities) is 4.8:1 - very good.



Long-term holders wondering why the revenues are only just above $30m when it seems like it's been there for years: remember they sold the largest revenue-producing division for a huge profit and returned a bunch of cash to shareholders. It's only taken them 2 years to grow the business to replace that - IMO that's pretty impressive.


The Dormakarba distribution deal was signed in January 2022. It's taken that long to get up and running, but now that it has the Access division has done 72% of the previous year's business in the first quarter of this financial year. Things are looking very positive for the company, it's growing and making profits and returning them to shareholders, the share price is cheap: great time to buy more!