Well we know IML is still buying and Harry Galleia bought on 27 feb. The problem is CCP was the Shining Knight in Armour of the Debt Collecting Industry that avoided all the calamity that its competitors were mired in with terrific year on year results and as such attained a rather iconic following from small and large investors alike. Now when a company has obtained such a high status and fails it loses credibility. Its forecast for this year is 10/12 million NPAT = EPS 13.78c. This is equivalent to full year 04/05 when the share price was $3.Of course we are throwing $5 mil out the door tidying up the mess this year which will have some Tax advantages. The Strategic Review looks solid and i don't think any punches are being pulled. The people at the coalface are being retained while the fat and the fancy offices are gone. The new Directors Mclay and Shaw look qualified and have obviously been brought in as troubleshooters. Lets see if CCP has any trouble renewing its finance arrangements this 30 June. RAB
CCP Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
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