well done winman. I have watched rcr fall from $2.oo on the back...

well done winman. I have watched rcr fall from $2.oo on the back of a reduced forecast made in March. Although profits for FY08 will be $4M less than originally forecast the huge sell-off was overdoe.
I bought in at 71c and will hold until they reach about $1.15. Current PE of about 10 and will pay FFr div in Sept. V. good for an engineering firm with exc contracts in the heart of booming resource industry.
Could be $2.00 this time next year as RCR will never enter into fixed price infrastructure contracts again. They are able to pick and choose which jobs best fit with their operations. A strong advantage.