Agree with you Ringin. If they can sustain profits and dividends they will be re-rated.
The market didn't like their $200m purchase of Rotary, esp. as the UK economy is so weak. Also the move to Dubai in retrospect was at the peak of that now faltering market.
I continue to back management. If they can produce earnings of 34cps (p/e 3.5) and dividends of 15cps (18% yield incl. franking) the price will adjust with time. Until then I'm happy to keep buying on weakness.
Their full year report at the end of August will reveal all.
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