One Year on, page-9

I'm thinking this is a contrarian turnaround story. If management are to be believed improved performance expected in 2nd half. I calculate AGI to be trading on 14-15x FY17. The business looks in reasonable shape and most issues are being addressed and downside is limited if Nova wants this and pay $1.60 as has been touted. But if the turnaround story gathers momentum and 2nd half is stronger followed by a good FY18 then this could easily go well north of $2 (once they reinstate dividends it will get another kick). I remember ALL went through similar ups and downs over the years so it's a punt for the patient. Most comforting is the balance sheet is fairly strong.