There is a lot to like about FSA. During a difficult period they have managed to achieve 25%ROE and an increased dividend (3.5 cents from 3 cents) and a stronger balance sheet. Their pandemic-effected services business will turn around in due course and is counter cyclical in a higher interest rate environment - and FSA still about 7x PE with a 6.5% dividend.
Ann: Appendix 4D and Half Yearly Report, page-2
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