Management announced NPAT for 1H13 of only $5.6M. If this is repeated in the second half, then ROE is less than 10%,
Management say that they are turning the business around, however the market doesn't believe it - hence the low SP. The market is waiting to see whether there is further bad news or whether they have been able to stabilise margins and profit - and whether they are able to refill their order book to maintain revenue.
The SP looks low in the present market, which is a lot more optimistic than a couple of months ago - so will be interesting to see whether greed overcomes fear in the next couple of months.
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Management announced NPAT for 1H13 of only $5.6M. If this is...
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