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Allnewissues.com concluded
that “FoaMasters is one to tuck away”.
“With its experienced management team, long history of production, and
its quality and safety accredited products FoaMasters looks well placed
to take advantage of the growth in both the domestic and international
markets. In 2006 the company made revenues of $72.2 million with pre-tax
profits of around $6.7 million. In the 6 months ended 30th June 2007
revenues stood at $44.3 million with pre-tax profits of $3.5 million. On
the 2006 numbers the company should be valued at just over 10 times
historic pre-tax profits when it lists. Considering the steady growth
which the company's markets are experiencing we think that this rating
looks pretty undemanding and that FoaMasters is one to tuck away.”
Source: http://www.allnewissues.com
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