debt and other matters..., page-70

With 500 major polluters who will be subject to carbon tax and CC's close to half the cost of the tax I rest well at night knowing that CCF will get more customers. It is only a matter of time.

The reason historical ROE is important is 2 fold. It shows that the company ran at a significant profit last year and it gives an indication of what future ROE will be as it gives a model for the company performance once it has new customers.

I should add, that there are few listed companies with ROE greater then 20%. Actually, last reporting period less than 30% of companies ran a profit at all.

It seems to me that sentiment surrounding this stock is bad but unjustified. Certainly not to the point that CCF should be trading below a P/E of 1, at 25% to book value and 25% to NTA.

With a ROE of 28%, EPS at 5.5c per share and only one competitor their future looks bright. I just hope that it is sooner rather then later for everyone else to realize it.

I suppose though, if everyone agreed with me then the PE would be 20 and I would be selling.