onwards and upwards, page-10

aspect huntley $7.50 valuation out! nope but here are the forecasts from aspect huntley

Intrinsic Valuation
$7.50


Risk High
Company Beta 0.98
Sector Beta 1.11


Year 2004 2005 2006 2007
NPAT ($m) 8.50 16.80 28.0 33.8
EPS (c) 10.88 20.87 32.90 38.90
% Change 18.52 91.82 57.64 18.24
DPS (c) 30.00 25.00 20.00 25.00
Franking (%) 100 100 100 100
Dividend Yield (%) 4.61 3.84 3.07 3.84
PER 59.83 31.19 19.79 16.74

Source: Aspect Huntley analyst estimates

Result Description
MND has been awarded a 20 month contract worth approximately $180m by BHP Billiton.


The contract is for the provision of structural and mechanical works at BHP's Nelson Point and Finucane Island site, as part of Rapid Growth Project 3 to commence in May 2006.


The contract is the single largest MND has been awarded to date.


Impact
The contract win is further justification of our view that MND's ability to provide a quality service has it well positioned with blue chip clients, and stands to gain further benefits from the resources sector.


Whilst we have not changed our forecasts, we have increased our recommendation bands to reflect the increased likelihood that our forecasts will be achieved