Well that should make Madcow happy 3 higher lows and the RSI is still rising , yes it may drift for awhile but with a more realistic p/e of 23. It still looks like a bottom draw one to me .
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The increased revenue was nearly offset by an increase in operating expenses. Despite the achievement in cost efficiencies and head count reductions for registry operations, operating costs still grew by 54.3 million or 20% over the pcp. The increase in expenses mainly accounted for an increase in direct services expenses of 36.4 million and a significant increase in technology investments for establishing the SCRIP system in the North American and Hong Kong of 16.8 million.
CPU.has been pursuing growth via acquisition and alliance on a global basis. Targeting expansion in Europe, in December 2001, Computershare acquired a 49% stake in a new joint venture that will provide their computerised share registry system SCRIP to Deutsche Borse's clients for trading and other services in Germany. It is intended that these services will later be provided to other Europe.
In November 2001, Computershare announced that its majority-owned South African business has, subject to regulatory approvals, agreed to acquire the securities business of Mercantile Lisbon Bank Holdings Limited in South Africa. Substantial economies of scale are expected to be derived by the merging of new businesses with existing operations.
Analysts continue to forecast strong growth. On a PE multiple of 20,
