They always say market conditions are tough/pricing is high for PDL purchasing in Australia and that they will maintain discipline and only purchase at sensible prices (year after year after year). I believe this is nothing more that an attempt to keep their competitors from chasing PDLs too hard and is consistent with the under promise/over deliver history. They always increase their PDL purchasing estimates as the year progresses.
Great result in my opinion and certainly looking at topping up at these prices.
CCP Price at posting:
$21.77 Sentiment: Buy Disclosure: Held
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