The disspointment is supposedly the US operations.
In my mind, that is a key part of the thesis to invest in CCP. The Aus PDL market is cooked and profits have halved since the peak, so its all about growth in the big US market. However, progress has been slower and delays to the US filling in the loss of Aus profits is not good.
Now that productivity has improved and it appears a better run segment, CCP is saying purchasing will ramp up, though no upgrade to purchases which was also dissapointing.
It's getting to a believe when you see it type thing. I think CCP could massively re-rate if/when the US segment hits its straps and the market prices more growth. Wait and see.
In the meantime it's becoming a money lender to cover itself.
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