I have invest a few more hard earned dollars since the release of the last few announcements and now have a good size holding at an average of 33 cents.
Assuming that Australian Super has sold down their holding for reasons other than that they see PRT as overvalued (see my post above), I believe that the company has been oversold.
With now less than two months left remaining for this financial year, PRT should have a good feel for their end of year financials and I don't expect to see much change in what was outlined in the companies last trading update. Most of their previous updates seem to be pretty much close to what they have forecasted.
Taking that their latest update shows that they foresee a core net profit after tax of between 23 to 24.5M for the year and the current market cap is 121M I expect a positive price correction in the next few months and a dividend at a minimum 1.5 cents.
Fingers crossed for a bombardment of political advertising leading up to the July election. Normally they do nothing but annoy the crap out of me but at least this time I can have a smile on my face every time I see one broadcasted
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