At the ICS AGM on 22 November a profit of $0.8-1.1 million was...

At the ICS AGM on 22 November a profit of $0.8-1.1 million was predicted for Fy 18. This was repeated in the H1 results announcement but it was noted "the upper range of guidance includes potential new acquistions / divestments". Openlearning has not been sold so I suspect NPAT will not reach the upper range.

However, in the last five years, ICS has had a consistent record of updating the market early if the profit guidance will not be reached. There have been no updates so far so I suspect the profit will be around $850,000. That will be a marked improvement of the $463,108 in FY17. That should lead to a re-rating of the ICS share price to somewhere near the long term average PE of at least 16. That would value ICS at least $1.40.