annualised pe multiple still very low

So - Friday's announcement is quite understated.

It says FY14 NPBT will be in the range $300k-$500k.

They don't bother to mention that first half NPBT was a little over $200k.

Therefore, second half NPBT is actually $500k - $700k.

If this represents the new base level. . . . . and that could be a stretch as we don't know how lumpy earnings are, but Alinta installation is not complete in this half and therefore could contribute more in periods to come . . .. .

then you are looking at annualised NPBT of $1 - $1.4m

Which makes current price look pretty cheap still.