pcg :valuation 101, page-2

re: orlando You're preaching to the converted here my friend! There's a smallish group of people that post regularly on this stock and most agree it has strong fundamentals. It's just a case of being patient; the nature of the business is pretty boring and so the stock doesn't have many followers, but those who do follow it generally agree things from about early 2007 should start picking up.

My guess is a decent portion of the market still sees the stock as a purely cyclical one due to it's past exposure (pre-2001), solely to the residential building industry. That, when you consider the recent interest rate rise and currently flat market sentiment, is one of the main reasons the share price is flat at the moment and why the market is unwilling to assign a more generous P/E to PCG.

Once they've incurred some once-off expansionary expenses into the forthcoming half-yearly, and after they secure a few sizeable overseas contracts that tenders are open for late this year and early 2007, the share price should start heading north again.

Cheers.