Well, the results are only positive from where I'm sitting.
Gearing reduced, forecast Dividend of 7.5 cents, mark to mark liability down from $19 to $6 million.
Negative aspects remain for industry but I'm feeling that we could be at the turning point with measures being implemented to reduce yield for improved quality across the whole industry.
I must admint I don't see sufficient risk to keep this priced at 20% dividend for long, but I may be biased being a long term die hard holder.
CWT Price at posting:
30.5¢ Sentiment: LT Buy Disclosure: Held