Just got a copy from commsec. Says last traded .18, valuation .25......accumulate/market perform.. mkt cap$.215bn. (Won't paste cause of copyright. Last 2 paragraphs r interesting.)
If CUS were to wait for the rest of the industry & move to dir. charging in March 2009 then this would have a significant impact on our current earnings forecast for 2009 with up to 5 mths less earnings. In this event Commsec would likely reduce it's forecast for FY09 by 50%. We feel the probability of this scenario is low as any delay is likely to encourage CUS to introduce dir, charging earlier rather than later. At this stage we have not adjusted our forecast as we feel that there is likely to be a response from the RBA who have said that they are seeking further detail from the industry on these technical restraints.
CUS Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
