Easy to see the leverage here.. if you assume the 1H run rate continued for Jan Feb (which, given the seasonality, January might have even been below that), assume approx $0.3m here. That leaves the last two months on approx 0.45m/month run rate. Annualizes to $5.4m NPAT. And this is smidge off the cyclical activity low... Of course the above is very rough and without detailed accounts I won't be relying on it... but worth thinking about for now.
EZL Price at posting:
81.5¢ Sentiment: Buy Disclosure: Held
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