I am not sure what to make of this company given that they...

I am not sure what to make of this company given that they forecast EBITDA of $33m for 2015 and just about made $20m that year. FY16 is not going to be hugely higher either going by 1H results. Full marks for their financial reporting though. It looks to me that it is not a sector with potential for bunnies in hats, so there is likely to be only incremental growth in same store sales, new store rollout and cost synergies. Still, a good management can pinch pennies here and there and turn a fortune in time. So, I think operational skills is going to count for progressive results and we will only know it when they announce results.