Apologies for misreading, sometimes can be hard to tell when it's tongue in cheek on here!
I think they have done some good groundwork on the internal admin side of the business, but it's certainly looking like they are operating as if they are doing $100m/year rather than where they are actually at.
I personally don't see the reason for them to be a listed company, other than having easier access to public capital. There are certainly a few other Tasmanian brands focused on premium range products that are more established and have better revenue and margins. And it's not like the board really needed the public capital for the acquisitions anyway.
If they were trying to fast track the growth through listing, it also doesn't seem to be showing to any level that's impressing me. Sales growth are inline with what I'd expect when you roll products out nationwide to distributors and actually try to push them to sell, the sales volume pre-acquisition were so minimal that I'd be concerned if their YoY growth wasn't to this level.
I think they'll be a great little earner, but those margins need to improve and then I'll be interested.
PFT Price at posting:
44.0¢ Sentiment: Hold Disclosure: Not Held
