anyone watching

Where are all the old stalwarts on this one?

If the market is any indication this one looks like it is going down the plug hole. But yet their guidance, issued last month, suggests they will do $21+M EBITDA this year. M Cap now $36m. They had net debt of $27m at December Half. So assuming that net debt has not increased , and unlikely if times are quiet, then EV must be less than $63m, or only 3 times EBITDA.

I note they paid tax in first half of $2.2m, which means they now have franking credits which (without any further contribution from 2nd half results) would allow them to pay up to 2.9 cents a share (fully franked).

If any of the directors consider this forum, may i respectfully suggest that providing the market is wrong, and you are not going down the gurgler, you ought to start paying dividends NOW. this and only this will reverse your slow descent to oblivion.