Assuming CGO repeat their 3c interim dividend, then they are on 8.3% yield + ff.
Positives:
$3m net cash on balance sheet
Trading on 5.3x LTM EBITDA
Trading on 9.1x LTM NPAT
Starting to get institutional support
Genuine exposure to global markets /growth
Outlook in North America remains strong with continued long term Fixed Price and Risk / Reward Engagements
A global services agreement has been signed with a major financial institution which should generate significant global revenues
Australian revenue now stable and high single digit growth is expected over next 12 – 18 months
Outlook "the company is cautiously optimistic about H2’14 despite the lumpy nature of Risk / Reward contracts and subdued Australian revenue"
Negatives:
AUD has not depreciated as much as expected (yet)
Investment in WIP expected in H2 impacting cash flow
Some uncertainty around European revenues
Poor price action / no interest in the stock
Could be an easy 50% + rerate (say to 7-8x trailing EBITDA, 12-14x trailing NPAT) on the back of a decent 2H
Continued global growth should see further ongoing re-rates
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Assuming CGO repeat their 3c interim dividend, then they are on...
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No. | Vol. | Price($) |
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2 | 8428 | 0.070 |
0 | 0 | 0.000 |
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Price($) | Vol. | No. |
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0.200 | 15136 | 1 |
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