On the 19th of February, BigAir released their half year results for FY15.  Let’s check it out:

 

Revenue $26.2M up 55%

EBITDA $8.5M up 28%

NPAT $3.5M up 22%

 

At current price of 0.795, BGL is selling for 20 times earnings.  At these rates of growth, that’s a pretty good deal.  Microequities have released a new report rating BigAir a Strong Buy with a price target of $1.06.  However this is a reduction of their earlier price target of $1.12 off the back of lower Wimax revenues.

 

I am expecting BigAir to realise more earnings accretion from their acquisitions over the next couple of years, and will continue to hold unless the business experiences a major change to its fundamentals, or it becomes grossly overvalued, in the order of $1.50 per share.

 

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