Redhall Group (formerly Booth Industries) : niche markets turnaround play

Seasons Greetings to one and all from your Director of special investigations!

I just want to make the following observation:

We are still only capitalised at £25M AFTER our 2006 rise. We had turnover last year (ended 30 Sep 06) of ~£32M and have a projected turnover THIS current year of ~£44M and a projected PBT of ~£2M. IGNORING the potential that exists here due to being a well respected contractor in an industry experiencing massive investment, I ask myself whether we're still undervalued?

The answer has to be an emphatic YES.

We're growing at 40% pa at present and our forward PE (assuming forecasts are met) is circa 12 !

£3.50 in 2007.