Using a crude annualised NPAT 4.7m x 2 = 9.4m

9.4/375m =0.0251c

FPE15: 37.7c

FPE20: 50.2c

FPE25: 62.8c

Stonking result from what I can see! "Dirty" Astles (NZ Cricket reference) and the team continue to deliver. Hope you got your analysis in last night @Tom73, I agree with @NewbieHK , on the back of a fag packet and at 32c AHC looks cheap :)

Must admit, my heart sank a bit when I saw the after market release notification come up......, but thankfully there doesn't seem much to hide here.

Operating leverage, starting to hit decent scale with ~20% EBITDA and 10% NPAT margins, I really like that maturity point for a business. It looks like AHC could reach 15% plus NPAT margins organically based on growth in the US (37% organic, "only" 10% in Aus/NZ, admittedly likely to be a bit lumpy). Perhaps a stronger AUD could be a headwind to look out for in this current half.

Interested to see no return to dividends, with a fat cash hoard and a good recent track record on acquisitions I'd expect another one coming soon. Play on.

Well @Longpar5 I did enough research to be comfortable to buy at yesterdays price, but it is currently set for a 20% jump on the open, so I will have to cool my heals and keep working on it. Originally didn't like the idea of the business because I thought it would struggle to grow, and that growth was priced in, but now it's priced for low growth and has proven an ability to grow...

I think they will have a stronger second half. I could be very wrong, though.