I've bought in today at $1.505 after doing a bit of research on this company.
Seems to be undervalued at the moment with great potential for sp gain and brilliant tax def high yield dividends. This grabbed my attention:
Upgrade to distribution guidance
BBI advises that the distribution for the six months to 30 June 2006 is now expected to be not less than 6.75 cents per stapled security. This upgrade represents a 0.25 cents, or 3.8%, increase per stapled security on the distribution guidance for the June half announced in December 2005.
The 6.75 cents distribution guidance for the six months to June 2006 is 22.7% higher than the distribution for the corresponding six month period to June 2005 and the full year distribution guidance of 13.25 cents per stapled security is 23.3% higher than the 10.75 cents per stapled security distribution for the twelve months to June 2005.
Currently doing battle around $1.50-$1.505. I was happy to enter at the higher of the two.
I see value here.
Good luck and my regards, Snake13.
BBI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
