is this stock under-valued?, page-14

Think its all nervous nellies,in my opinion this is a
compelling buy. Bought a packet at 63.5c,

Source:
http://au.news.yahoo.com/thewest/business/a/-/wa/8204609/clough-dives-on-profit-warning/

"Clough shares sunk 10pc yesterday after the company issued a profit warning.

Clough shares dived more than 10 per cent yesterday to their lowest level in more than a year after the engineering and construction group warned shareholders to expect a full-year profit fall of up to 25 per cent.

Clough chief executive John Smith told shareholders at the group's annual meeting in Perth that solid growth from its projects, which are predominantly focused on the oil and gas industry, would not make up for weak demand from the marine construction sector.

"We had very good earnings in the first half of last year in marine construction, which we haven't repeated - which no one has repeated in the market - and therefore we've got that hole to fill," he said.

Mr Smith said that earnings to December would be lower than it experienced in the second half of 2009-10 and, although Clough expected improvement in the second half of 2010-11, there was "too big a hole to fill to exceed last year's total earnings".

Clough booked a $50.1 million net profit this year, slightly lower than the $52.4 million profit it reported for 2008-09. But Mr Smith said growth in Clough's order book - which added almost 50 per cent in three months, from $1.03 billion in June to $1.5 billion in September - provided a solid base for the group.
Clough shares shed 8.5, or 10.5 per cent, to close at 72.5."