Kip Mcgrath Education Centres Limited ("KME")

[Huang Chung]

Yeah, a nice little gain Josh. Took some profits, so all's good.

Anyhow, better not hijack the Kip McGrath thread entirely......

[Huang Chung]

Yeah, a nice little gain Josh. Took some profits, so all's good.

Anyhow, better not hijack the Kip McGrath thread entirely......

[percy]

Yeah, a nice little gain Josh. Took some profits, so all's good.

Anyhow, better not hijack the Kip McGrath thread entirely......

No one here minds.In fact I think others will be like me and enjoying it.!
And well done.Pure nectar,.!!

[Well Endowed]

half year report out:

http://www.asx.com.au/asxpdf/2014021...vn0pkkryg1.pdf


Look pretty reasonable, borrowings paid down over the period, less going to interest expense. other metrics (Rev, EBITDA & Profit all up significantly - in percentage terms).

Thoughts?

[steve fleming]

half year report out:

http://www.asx.com.au/asxpdf/2014021...vn0pkkryg1.pdf


Look pretty reasonable, borrowings paid down over the period, less going to interest expense. other metrics (Rev, EBITDA & Profit all up significantly - in percentage terms).

Thoughts?

"Our financial performance has been robust during the 6 month period, with
revenue growing by 29% to $5.714 million and EBITDA improving to $519,000,
up nearly 75% on the same period last year. As indicated in the last Annual
Report, the company has budgeted for an increased profit in FY 2014 compared
to the prior year and we remain on track to achieve that outcome."

Fantastic growth in revenue (significantly above my estimates, although I though there would be a larger uplift in UK earnings) but EBITDA was below (underestimated the variable nature of some key expenses)

Strong period of FCF generation (and reduced CAPEX) with net debt reduced to $1m (from $3m at 30 June). Looks like dividends are on track to be restored from next year.

Historically the business has had its earnings strongly weighted to the second half (FY12: 62%, FY13: 75%). So on track for FY14 EBITDA of around $1.25m to $1.5m, so starting to get reasonably chunky. At 25c, on about 8x FY14 EBITDA, so nice potential for a re-rate as earnings continue to increase.

Great little company, and I am very happy to be a top 20 shareholder in it.

[percy]

Thanks as always Steve.

[Well Endowed]

Thanks Steve, some good points there, a shame I didn't get more!

[steve fleming]

Hi SL
good to know there are others on board!

There is actually an ice-berg seller at 15c/16c, keeps on reloading....I have been trying to fight it this week, but now have 300,000 and am out of ammo

so there is an opportunity at the moment to get in at around 15c/16c

Touched 30c / 31c today, but probably got a little ahead of itself...will probably come back once the excitement fades.

Still, the big off load at 15c and 16c back in December turned out to be a real gift

[stoploss]

PIE Funds management joining the top 20 as well Steve, 5.8 Mio shares @ 17.5 cps.

[percy]

Wel that is interesting.Paid 17.5cents,so PIE Funds are doing well already.
Good on you Pie Funds.