PCG, you've made my day! Awesome results. Even taking away the one-off tax concessions which substantially helped profits, the best part for me is the massive lift in revenues - from $35M in first half '04 to over $60M in first half '05.
Let's assume a weaker second half of basic EPS at 6c EPS. That'll put full year EPS at 13c per share, and with a CONSERVATIVE P/E that's $1.30 in six months time.
Can anyone tell me one bad thing about this business? It's got low debt, strong positive cash flow, great margins, is leveraged to a booming industry, long-term growth prospects offshore, new products on the rise, it's a simple business, much of the work it has is locked in for the next couple years creating guaranteed cash flows, competent management, moderate barriers to entry, is quite low risk, pays a handy dividend...... and the list just goes on and on and on.
I love you PCG. Time to go and buy some more shares!!! This is NOT the type of share you are going to make a quick 100% in a month, but the way we are going in 3-4 years this could be a $3 share.
One of the best resource related plays on the ASX IMO.
PCG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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