As a public service announcement, I'd agree with Beagle's view and good luck to anyone holding. Its going to take a lot of profitability growth to make this worth the current share price of $1.09 (mkt cap $192m).
From the NZX listing document
2018 net profit $3.8m
2019 net profit $4.2m
2020 net profit (loss) ($2.8)
2020 six months to Sep 2020 net profit $2.1m
There were 176,495,000 shares on issue so a circa $4m net surplus is only 2.3c/share.
AFFCO in 2021 is forecast at $2.9 - $3.5m and dividends are 50-70% of this for a dividend payout of about $1.8m (1c/share).
They don't appear to have provided any 2022 forecasts (a warning in itself).
While high EBITDA figures superficially look appealing, this company looks hard to value at even $100m.
Disc don't hold and won't hold at this sort of price.
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