long term growth

I don't follow many manufacturing companies, however been with this one about 5 years (and got burnt initially, but topped up at 87c late 2003).

This company has a world class product, well aclaimed world leaders (try reading "fast ferry" and not reading about Austal).

The company share price appears to be supported by current profits, which are all from the Henderson yard in WA (with a good high margin order book, only limited by trade skills in WA).

The bonus is in the USA, where after making establishment losses the operation is now building to a comparable or greater turnover than Henderson, with probably better prospective margins.

Once this USA operation goes into profit, IMO the companies profits will soar, and atract international investors who will pay a PE premium for industry leadership and growth.

Also I can't see why one shouldn't expect set up of a third yard somewhere in the world. After the success in Alabama (on the verge of standalone profitability), further strategic international expansion must be low risk.

IMO this is an underrated quality company.

Entropylord