I'm back into VDM and see the share price in the range of 6.9c -...

I'm back into VDM and see the share price in the range of 6.9c - 8.5c in 12 months time.

In the past I’ve not been impressed by mgt nor the board and each job awarded makes you wonder, will they turn a profit.
IMO the company is now at the cusp of generating cash.

A similar company like forge, has a profit margin circa 8.9%.
I see VDM in the next 12 months head to between 4-5%.
Low yes, however keep in mind they have been running negatives.

Based on revenue, say 300m
PE 8
Fully diluted, 933m ords, 405m oppies,
1.398B total shares
SP @ 4% Margin, say 6.9c
SP @ 5% Margin, say 8.5c
SP @ 8.9%, FGE margin, 15.2c (unlikely IMO)

Pros
Margins on jobs significantly improved.
Trading at just above cash, non diluted.
Return to profit
- IMO very likely
Broad buying in
- Petty cash, albeit a point of confidence.
- Buying shares as a director is also painful. Entry and Exits difficult.
STI financially based
- Paying any bonus when a company is bleeding is poor form.
- Realigning to financial measures a win.

Neutral
Some might say, mgt and particularly the board over the last few years could have written a book called, "falling asleep at the wheel and burning cash made easy".
- Most of the dead wood now cleaned out.

Cons
Slow execution of strategy
Past performance a joke.
Sector head winds.
Dead wood kept for too long.

My 2c and worth half as much.
Mav