Half Year Results

Not much to say..... all revenue's pretty much from acquired business....

still has a market cap of $40M, vs PGX of $60M

TPP has given only underlying revenue's of 8 to 15M, with no earnings guidance. unless you read that underlying profit H1 of $1.0M (excluding restructuring costs), so $1.0M for H2*...…

Earnings Guidance 2019:

	Column 1	Column 2	Column 3
0		TPP​	PGX​
1	Work in Hand	$7-15M​	$95M​
2	EBIT	$1.0M *​	~$8.5M​
3		​	​
4	Cash on Hand	$7M​	$20M​
5	Market Cap	$40M​	$60M​
6		​	​
7	EBIT X’s	40x​	7x​

over the next 6 months - 12 months more market cap growth in PGX, so for me I would put my money behind the PGX guys.

I saw them at Diggers and Dealers and they are switched on, big things from them to come. more importantly, with Pensebene on board (the new golden child) I tip him to take over from Lynas in the short term.... seems to be the new golden boy of the chairman who is singing his praises in the market place...… (much like the changing of the guard from max to lynas….

Good luck- 2 simple strategies here- wait for the earnings to grow to catch up to the market cap, or go with other companies (like Primero/PGX) who are on the growth path and whose earnings multiple seems ok.