Back in 08/09 sp was $1.20 with a half yr NPAT of 10.5mil. Debt was $115mil.
NPAT 1H17 was around $33mil.
Next HY estimated NPAT at $22mil with circa $260m debt.
Given the above im certain a restructure is needed to maintain NPAT at decent levels. However i think $1 is a bottom with future upside.
Double the debt, double the profit margin from 08/09 levels. Thats the catch 22.
Ive reentered at $1.07 after heavy losses last year and bailing out.
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