austal up 6%

Austal have moved 6% after a favourable report in todays AFR.

Austal back on investor radar
http://afr.com/articles/2004/06/22/1087844938170.html

Reporting of full year profits should see the share price move to healthy PE.
With full order books for the next couple of years the problems of staggered contract earnings that have depressed the share price in recent years should fall away.

The high prospects US operations are also high risk. If things don't work out well here they could cost Austal a lot.

But overall, ASB are a good one to hold for 12 months at least.