aus convey value at least $150mln or 46cps, page-13

Hi Retiredyoung,

That was the page from half year report which I used to come up with NPBT margin.

Thanks for putting that out and the extra points relating to D&A and corporate expenditures.

I simply want to show punters/investors that if MBE can maintain current NPAT margin, then a growing revenue will translate to even bigger earnings at dollars level:

1/ While maintaining NPBT margin at 34%, half year ended 2013 NPBT is $2.436m, a 70% improvement from previous corresponding period (PCP). You see, 34% margin = 70% improvement at dollar level.

2/ The forecasted NPBT for half year ended 2014 is $3.71m, or a 53% improvement PCP. That $3.71m is 159.4% better than the $1.43m figure achieved for half year ended 2012.

Convey is growing rapidly, and that is why it moved from 2c to 34c. In my opinion, current price is attractive and can reward shareholders immensely if MBE can remain in the same trajectory grow rate.

And if it can bring its model into oversea markets, MBE will head to dollar mark without a problem.

That is why a company in an explosive and growing industry with proven record should be value at a signficant premium.