On the other hand, you have to bear in mind that at 49cps, the market looks to be pricing in either further substantial losses or additional dilution in the future, given that NTA is around 85cps (sorry, can't find exact figure). The deferred tax credit still adds 1.5cps to NTA. Forecast of even $4m NPAT for half year will still add another cent, presuming they don't pay a dividend.
By the nature of finance capital, isn't it likely that an equilibrium has to be eventually reached in the world of finance where returns on equity at least match one year interest rates (and most likely carry a risk premium to it)? For that to happen, either we see profits at a level that the gap on NTA will also close (giving the double whammy to the share price) or we have to see losses and a reduction in NTA. While they post profits, no matter how small, then I am thinking the first scenario seems realistic (over, say, 3 years).