$19-21m EBITDA. That's a long way from the pro forma $30.2m included in the presso when they bought Cassons in October. But only a little below market expectations for FY18, I think ($21.9m).
I like MTO's niche, positioning, and strategy, but it is hard to get a good handle on profit and value until they can provide much fuller disclosures. August for that now, and even that won't have a full year of Cassons included.
that said, when the cycle turns upwards, they will be a sizeable beneficiary. but there is nothing in today's announcement that signalled that any such upturn has commenced though!
GLAH
Ann: Trading Update, page-3
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$1.32 |
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Mkt cap ! $97.42M | |||
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