National Telecoms Group announced their 2003 forecast today. EBITDA is projected at $26M compared to $18M for 2002. ASSUMING the same profit margin after tax as forecast for 2002 of $12M, then that would imply a NPAT of approximately $17 to $18M or EPS of about 15 cents for 2003. Trading around $1.70 to $1.75. For a company that is comfortably growing at this speed it has to be undervalued at these levels. I'm tipping well over two bucks by Christmas.
