AGM held on 5 August. Here are some interesting (or not) notes on the company (from the AGM and generally). All dollars in NZ as this is a NZ based company. I am also using operating profit instead of NPAT. No much difference between OpProfit and NPAT in FY22.

• Highly illiquid. No shares traded today (11th August).
• Because Managing Director/Founder owns just under 70%
• Revenue has grown at 14% CAGR since 2005 (from $8 to $130m)
• Has become profitable over the past few years and achieved an operating profit of $20m in FY22
• Will issue a maiden dividend in FY23 ... 20-30% Payout Ratio
• Expect FY23 Operating Profit between $27-32m
• Current market cap is about $370m (NZ dollars) so forward PE ratio is only around 11-13
• Expected Dividend yield - 1.7% to 2.5%