Hi Ratman.....it's inevitable that banks will outsource machines to fleet managers...but not all thier machines. CUS is the only ATM deployer set up to do this. They will keep the profitable hole in the wall CBD ones and outsource the loss making machinses to CUS which CUS can make profitable. The 1600 machine hook-up with Bendigo/Adelaide and Suncorp will be very good for Customers. Other banks will observe with interest - this is why the relationship with exclusive distribution of Hyosung self-cashing machines is so important. CUS will offer a complete solution to the banks. Also take into account with 26,000 + machines in Australia with an average life of 7 - 10 years they all need to be replaced.
In regards to the recent weakness in the SP someone is happy to off load at around the $2.80 mark and when the buyers come in they back off and let the share price rise up again like today, then sell into it again. It's going to take a couple of weeks for the SP to find base although I thought $2.67 was a good buy for someone. You can risk trading i.e selling and trying to buy back lower but a business update could arrive anyday now and we don't know what's in it but from what was said at the AGM you'd have to expect a result in NZ was very, very close amongst other good news.
If you can find a better yield in the market over the next 8 months, taking into account your capital gains tax on selling, let me know.
CUS Price at posting:
$2.69 Sentiment: Buy Disclosure: Held
