Totally underwhelmed to be honest.
Understand we had a year of sorting legacy issues and had some good contract wins but overall EBITDA decline is seriously disappointing.
EBITDA Growth outlook is decent at circa 25%, but revenue growth if we deliver the low end of F16 target is fairly average at circa 10% so I question ongoing sustainability of double digit EBITDA growth.
EPS of 4.61 gives PE of 20 at current price of 95c.
F16 EPS of 5.74c (180m x 14% EBITDA target / 439m shares) at PE of 20 times gives F16 target share price of $1.14.
I think it's a hold for now. But not setting the world on fire with a high PE.
Thoughts?
ASZ Price at posting:
94.5¢ Sentiment: Hold Disclosure: Held
