very little interest on HC re MCP. I am continuosly reviewing my portfolio in light of dramatic news from overseas re debt defualt etc. Whilst not a 'glamour stk' MCP sits at 2nd place in my 'best bets'. The stk has a PE of 7.2 at SP $2.85. Most retailers are double this ratio with some around the 20 mark!! Company has strong cash flow, rapidly reducing and very manageable debt level, and targets the 'budget consumer'. As MCP does not use a 'buying group' when purchasing goods (unlike JBH and most electrical retailers) the company enjoys the full benefit of strong AUD. Safety 1st is my main driver and MCP suits me is this climate. Expecting total divs of 24c ffr for FY10.
MCP Price at posting:
$2.85 Sentiment: Buy Disclosure: Held
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