ann

This came out 2 days ago. I have been busy.
"December 19 2007
WATPAC EYEING ACQUISITIONS
Watpac Limited is actively pursuing opportunities to add to its record property
development pipeline on the eastern seaboard.
Watpac Chairman, Kevin Seymour, said current market conditions are presenting
potential property developments at attractive prices that will continue our track record of
strong earnings growth into the future.
“Further to our recent expansion into Victoria via acquisition, Watpac is also continuing to
explore acquisition opportunities to take advantage of the strong property, construction
and engineering sectors in Australia.
Watpac’s current balance sheet strength places us in a strong position to take advantage
of these opportunities. Watpac had cash on hand on 1 December 2007 of approximately
$100 million, an increase of $31m since 30 June 2007. We have no exposure to the US
market or funding issues that are affecting other players in the property sector.
Our construction work on hand is at record levels of almost $1 billion and we expect
margins to equal or exceed our past year’s performance.”
Mr Seymour reaffirmed previous earnings guidance.
“We are optimistic of continuing our historic levels of growth and returns to
shareholders”, Mr Seymour said."
I like the bit about no US exposure and cash on hand of $100mil. Should be a good '08
Cheers to all watpacers