4 million crossed off market Obviously instos buying and selling .
Interesting to see if SP moves back up as seller has exited ( assuming they are done ) also interesting to see if Wyllie is increasing holding.
If they are their holding would be about 16% with PRY 20% plus makes a corporate move a lot easier .
It's not loved at the moment because they haven't managed to generate earnings growth but with net debt at 13 m and EBIT at 25-26 , even if EBIT drops to 22 over next 1-2 years as Qld DR reduce and Vic business builds , it's still seems cheap . Once they act to increase earnings through acquisition I think the price will rerate and the PE will move from 8 into 12-14 range
VEI Price at posting:
62.5¢ Sentiment: Buy Disclosure: Held
