SPSY’s update this morning highlights a strong result for FY2015E leading us to upgrade our forecasts for the year just completed by a significant degree. Our previous PBTA FY2015E forecast of $0.14m now expands to $0.6m. Reflecting good newsflow momentum, the announcement follows on from the substantial upgrade to FY2016E last week, which was driven by the complementary and earnings enhancing acquisition made by SPSY.
