Been stalking this for a while for a fill at 0.30. AFR has a knack of rumours in street talk but a 0.46 takeover price, true or not should drive some interest here.
Still the best of the pack given management commentary looking at approx $5M NPAT. $34M EV, so if forecast is right its trading about 3.4 times NPAT (on annualized basis) here, 0.49 times gross profit and 0.23 times revenue.
No peers are trading that level. CVL trades 4x gross profit, 151x net profit. Trash margins of 6.68%. ECL trades 1.25x gross profit, 4.21 net profit, margins about half of what LGD pulls. ENE trades 1.35x gross profit, 72x net profit LCM 0.94x gross profit, -$8.6M NPAT last HY. RFT 3.9x gross profit, 23x NPAT.
GL
LGD Price at posting:
31.0¢ Sentiment: Hold Disclosure: Not Held
