🕐10.01.11 - 05:27 Uhr

New Research Report on BigAir Group (ASX: BGL)



A new Microequities research report released today on Australian wireless broadband provider BigAir Group (ASX: BGL) remains positive with a Buy recommendation, and a price objective of $0.26 (currently trading at $0.20).
Recent News
BigAir announced an off-market takeover bid for Clever Communications (ASX:CVA) on 22nd November 2010 in scrip and cash for approximately $10.15m, and announced the takeover of Access Plus on 6th of January 2011 for $5m in scrip and cash.
Microequities have upgraded their forecast for FY11 and FY12 in line with the recent acquisitions.
Microequities Forecasts:
* Clever acquisition to add $2.92m to FY11 revenue and $0.69m to FY11 EBITDA and the Access Plus acquisition to add $1.5m to FY11 revenue and $0.5m.
* Both acquisitions to be EPS accretive in FY12, with forecast NPAT contribution of $2.0m for FY11 and $4.6m in FY12.
* The four recent BigAir Group acquisitions to contribute $6.42m in revenue in FY11 (13.40m in FY12) and $1.85m in EBITDA in FY11 ($4.98m in FY12)
* Acquisition of Clever Communications will bring out significant cost optimisation for the combined entity, as it would allow stripping out large segments of operating costs.

In terms of Access Plus, Microequities forecast significant revenue growth in FY11 and FY12 driven by the expansion of student dormitories across Australia. Please see attached report for further information. Media Enquiries: If you are interested in scheduling an interview with BigAir executive management, please contact me on 0410 987 513 or email
Radha Belapurkar Manager | Media and Investor Relations Mobile: 0410 987 513 ________________________________________________________ [cid:image001.gif@01CBB0C5.E0C51790] Level 3, 63 William Street East Sydney - NSW - 2010 Australia Tel: +612 9331 0655 Fax: +612 9331 0644 www.fortbridge.com ________________________________________________________
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