The Annual Report reads pretty honestly, in my opinion. The Board acknowledges the serious downturn in business over the past year but also points out that no staff or directors got a bonus his year. This is only fair given that shareholders didn't get a dividend either. On the plus side, the future is forecast to be better than the present which is already better than the immediate past. In other words, things are looking up. The kick-in from the concrete business and the revitalized lines in bathroom supplies should see MBD move back to health and prosperity towards the end of 2013 and into 2014. The result has been a mild resurgence of interest in the shares which have appreciated about 50% on thin trade in recent weeks. If there is some sort of decent announcement or guidance next month at the AGM, the few shares on offer will go quickly and the price could rise back to the 12c range where it was before the concrete business was purchased. All eyes now on the management.
MBD Price at posting:
7.5¢ Sentiment: Hold Disclosure: Held
