Bank debt was $11.2M at 31 December, after the acquisitions at Gatton and Laidley, so to see this reduce to $9.3M (assuming they hold $1.0M in cash), shows that during Covid the company has managed its cash position excellently, and repaid ~$2M of bank debt...
The dividend should be maintained based on this results, or only swing +/-5%, all things being equal.
What I was really hoping for was an update on acquisition activity. I would have thought that other privates would have felt fairly hard OTC revenue declines and this may bode well for the company in the next 12mnth horizon - but no update yet... Time will tell, looking forward to the FY results and commentary.
IMO a great long term buy and hold on any significant SP weakness.
ONT Price at posting:
$5.29 Sentiment: Hold Disclosure: Not Held
