Ann: Profit Guidance, page-36

They make some good points and some ridiculous points. Pie Funds are more interested in capital growth than income, which is similar to my mindset, but I am quite comfortable with PSZ for two reasons:
a) A good dividend yield. I am not much of a dividend yield player yet in my investing lifecycle I can see that changing over the next ten years ...
b) They are showing signs of solid growth for a company trading on a PE less than 10 so there is more upside than downside AND if they can increase their growth profile over the next five years that dividend yield will go up.

It is fairly obvious that Pie Funds leaving the company resulted in a collapse in the SP, but the recovery since then is simply based off the good value at these prices.