MIL 3.08% 63.0¢ millennium services group limited

This looks like a great turnaround ,this company was almost dead...

  1. 1,523 Posts.
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    This looks like a great turnaround ,this company was almost dead and buried 18 months ago, but due to so hard decisions and a large slice of good luck, they appear to have turned the corner.
    The good luck to some degree came from jobkeeper, they secured a good slice of money , and they used it wisely to slash their debt,
    they also had a good hard look at existing contracts an exited those that were not profitable, the gross margin they are now getting is fantastic, now if they can grow their contract base , they are in line for a significant re rating , as they still only have a market cap of around 30 million dollars,
    i expect the incoming chairman to add to the profile of the company, and given that they get the covenants lifted from the ANZ they will be able to pay a dividend maybe later on this year,
    so we get a 30 million market cap company with a turnover of say 270 million, greatly reduced debt, good cash conversion, tight register, should all be grounds for an increased market cap over the next 6 months.
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