MYG result out today. From my perspective I thought the result was pretty much as expected - market didn't like it, but seems like a superficial fall of 15% on low volumes - my guess is a reaction to the headline of a reduction in profit (but that is complicated by use of an income tax benefit - underlying it's actually improving about 10%). It's a now $70m market cap company with $14m in the bank (after divs just paid), no debt and a $13m property. It makes NPAT of c. $5m a year (FCF for this year was $15m, although I would hesitate to say that is "sustainable" FCF given how much working capital drove that result). The product seems to be in increasing demand (10% plus increase in rev), pitching into growing market - including newer technology applications for switch boxes, electrical switchboards, etc.

Forward strategy is set out in the annual report:

Should add 10% buyback just underway as well from June 24.