I think everyone should take a becks and either relax or buy at these levels. Nothing has changed with greatness being delivered behind the scenes IMO which will be revealed in the update promised before early August and indeed when the stellar figures are released for FY14/15.
I'm not surprised about the pull back with the market retracing and impatient investors offloading their parcels for a modest profit.
As I said to Mr Q when he was procrastinating at 13c (and boy did he miss out), when this thing goes, you won't be able to chase it up as the stock will tighten and fly. I recon the instos have been the ones behind the large volumes of late as they get their positions prior to the upgrade in earnings expected.
Next FY we are looking at turnover north of $40 mil and profit somewhere from $9-12 mil IMO. MBE's SP will simply follow the EPS multiple of 26 depending on how high the profit is. Add the OS growth excitement and we will have a SP around 50c, not 23 IMO.
Lets see if Collison's are right with increased turnover around $31.8 mil and a profit in the late $4's or early $5's which will vindicate my confident position and prove we are on a growth winner with zero debt and $9 mil in the bank Frank.
MBE Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
