Let’s be clear, Net Profit and EBITDA are two different things....

Let’s be clear, Net Profit and EBITDA are two different things. That’s the first point that you don’t understand, if you think Net Profit is the only driver of value.

Plenty of Companies that are EBITDA profitable and worth bucketloads.

1H 2021 showed an EBITDA profit across both NZ and AUS and an EBITDA loss overall due to centralised costs that cannot be attributed to either business directly.

Amongst these were a large number of one-off cost, for example $900k or so on the costs of raising capital and a large amount of non-cash share based payments. 2H 2021 will not have most, if not all, of these one-offs and I anticipate will show an overall consolidated EBITDA profit.

From a technical analysis perspective we have clearly bottomed with a “triple bottom” pattern and a series of higher highs and higher lows to mark the end of the downtrend. Don’t underestimate the move up from here once people realise the potential and turnaround in SP underway.