Recent confirmation of 10-15% increase in underlying profit also good news (I was worried that there may have been some short term inpact on Qld exposure becuase of floods - although no impact on medium term fundamentals). Suggests FY EPS close to 8cents/share. Indicates P/E around 9. With NTA of $1.24 a share and gearing of 23% and leverage to retirement marketlooks good for price increase. Chairman purchasing 1.5 million convertible bonds at over $1 each (with 8% return) is pretty good vote of confidence.
FKP Price at posting:
54.7¢ Sentiment: Hold Disclosure: Held
