will ugl reward shareholders??, page-7

Big day Mike. I predicted LEI at $1.50 EPS (which was well below consensus of $2), so I feel that I should have a crack at UGL.

I am saying that it will be 91c EPS. I would be very surprised if it is below 90c and would also be surprised if it comes in above 95c. With a SP of $12.70, this puts UGL on a BACKWARD looking PER of 14x. Assuming 10% NPAT growth this year (conservative for trend), UGL is on a forward PER of 12.7x. Still looks cheap, but I am very glad that I bought sub $10, because over then next few years, this one should be a real winner for me.

Once I discovered UGL, I slapped 20% of my capital behind it almost in one hit (after a few days research). Infrastructure hasn't been a favourite sector of mine due to competativeness, low margins, etc... But I have had to change my mind this year, and I am glad that I did, and even happier that I chose UGL as my play.

Good luck to all!