fantastic fy result-explosive mobile industry

Actual result is another upgrade from the 5th of Aug announcement:

- Full Year's EBITDA $1.068mln & NPAT $388.8k.
- 5th Aug: NPAT $230k in earlier upgrade.

First half was a loss of $200k. That is a significant turnaround.

Base on full year result, 2nd half is spectacular. From $200k loss (1st half) to $388.8k profit (full year) meant MBE made $588.8k in profit.

If we base on 2nd half result going forward. And company's presentation of explosive growth in the mobile payment and mobile advertising market of plus 100% growth. Then FY14 can be a massive year. If we can make $588.8k in one half. Then a full year can be anywhere between $1.2mln to $3mln in profit.

In a high growth sector, a PE of 20X is conservative:

- At $1.2mln NPAT: MC = 20 * $1.2 = $24mln or 7.8cps.
- At $3mln NPAT: MC = 20 * 3 = $60mln or 19.5cps.

MBE's Market cap is between $24mln to $60 mln is my projection. At $60mln, that is almost 3 times current share price.

And I think MBE expects that the in the next 3 years, the growth rate for the sector will be very high.

On the balance sheet side, cash balance improve from $156k to $927k from end of June to 28th of August.