That is true but they arent gonna just dump 20 million on to the market they will sell it off market to someone else who can see the long term value in this stock. In essence I dont think it will have any negative effect on the stock.
Talking to a fellow builder the other day and he was informing me of some new laws being passed in the construction industry that now force people to use scaffolding when doing construction on houses that are taller than 3 metres. Also how expensive it is to hire the scaffolding equipment and how the big boys are making crap loads from this area of the industry.
From all accounts PCG seem to be back on track and with management forecasting further growth I am extremely comfortable holding on to my shares in this company. Bring on more contracts, and I am looking forward to dividends in 2004. Earnings per share = 2.8c. Assume 30% growth == 3.64c and a 50% payout ratio could mean a 1.5c dividend this year. I dont think it is too far out of the realms of possibility, do you?
Happy shareholder signing out.
PCG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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