OTOC and Coffey | 2 Industrials on the Move

Glennon Capital

ASX:GC1, ASX:CMI

We first mentioned OTOC (ASX:OTC) back in July (VIEW LINK) at $0.11. They released their September quarter earnings update on Wednesday. EBITDA for Q1 2016 came in at $3.7m, demonstrating OTOC's strengthening underlying earnings. Their outlook is favourable with a ~$30m order book already secured, which equates to 75% of budgeted revenue. Organic growth and acquisitions in OTOC's national surveying strategy represents the next big milestone. We were also happy with the bid for the specialist professional services consultancy firm Coffey International Limited (ASX:COF). In a cash per share takeover, Tetra Tech valued COF at $0.425, which is a 129% premium to its last price of $0.185.


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Glennon Capital
Fund Manager
ASX:GC1, ASX:CMI

Glennon Capital was founded in 2008 by Michael Glennon. Previously, Michael worked with some of the best institutional small company fund managers in Australia. In 2007, he received the IMCA Money Management Fund Manager of the Year (Small Cap)...

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