Q: What do you think about the -9% organic growth, increasing bank debt & interest costs, and one customer accounting for 11% of Revenue? How big a deal, on a scale of 1-10, do you think these issues are for Lumine? Thank you
5i Research Answer:
These issues are not great, certainly, but overall growth is still very much there (with acquisitions), with sales up 31%, operating income up 65% and cash flow up 98%. We would of course like to see organic growth and not decline, but as the company makes more acquisitions over time this should be a possibility. Debt has risen but net debt is not particularly concerning. On a scale, we would give these issues a 4/10.