I sold a few above $5, and dipped in again today. It definitely spiked with the special div and has come back to a fairer (but still not cheap price). I am forecasting FCF around $11-12m for the year, which by my calcs would put it on a FCF yield of 6.5-7%. For a business with good returns on capital, a history of growing in the mid-high single digits and momentum in the US division I see this is ok buying.
Ann: Half Yearly Report and Accounts, page-12
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