I'm wondering if the market has really appreciated the full impact of The Internet Bureau of NZ acquisition. It is expected to add $AU1.2M pa to the bottom line. Considering that the last 6 months profit of EMI was $AU1.621M then that is a significant addition. And EMI say that the purchase will be "strongly EPS accretive". Yet the share price has hardly moved on average.
I note that they will employ 12 staff in NZ. Here in Oz they employ somewhere around 27 staff so the NZ addition is quite significant, it would seem. A large addition to gross billings too.
EMI
emirates nbd pjsc
the internet bureau addition
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