Front page article in today's Brisbane Courier Mail lashed huge waste incurred in Australia's foreign aid spending. Story details the number of big contracts going to half-a-dozen firms and says money is wasted on several areas. Beurocrates(sic) are also in firing line. COF heads the list of firms mentioned with $312m in Aid contracts. I'm not sure everything in article is well-founded and very likely COF will respond with vigour, but i have little doubt today's bad press will see a sell-off in COF. Holders should ask themselves :is this a temporary blip or likely to affect future COF earnings over next few years?
COF Price at posting:
$1.03 Sentiment: Sell Disclosure: Not Held
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