Petra capital are a broker than mainly deal with instos and Sophisticated investors. they are very good IMO
Asparagi
yes - i agree i thought debt was a little high a couple of years back but they have been managing to reduce over last 2 years while investing in business and paying out very good divi. This lump sum debt reduction makes debt well within a comfortable range at 1 x EBITDA. Furthermore the growth and margin expansion is encouraging. As you correlcty point out, if theycan get all business units firing , then the next few years will be very solid. with a 5.7% FF yield at these levels , one only needs a few % SP growth per year to get a solid return , but i do expect the SP to rerate to the dollar mark soon
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