FY2017 Guidance was not so good?, page-57

During the investor call on day of the update it was stated that core business will come in at $91m and F&P contributing $6m for the total FY16 $97m. Next year $100m excluding any contribution from to be discontinued business (to be confirmed at FY result). If we say $110m that still leaves core business levels off, assuming F&P contribution will be around $18m.

Today, investing is a view on achieving the double digit growth in FY18 not FY17. I expect some will want to see evidence it is heading in that direction before building or rebuilding a position.

The SP looks overdone though on a forward PE worst case of about 7. Can't see it falling below $1.80 but equally can't see a sustained climb before evidence of sales/margin showing momentum. Near low so probably a good one to buy and not worry too much about with a promised payout ratio delivering reasonable dividend return before growth is evident.