re- when will sp reflect earnings growth?, page-3

Interesting this one, bit surprised that it's still where it is...

Momentum has continued with another 22m contracts won, averaging over 10m a month out of China.

Purchase of a manufacturing operation in China to establish and manufacture locally produced vehicles for use in the Chinese Market. This should be a good move to reduce costs and produce competitively priced equipment for that market.

management continue to tick boxes, have bought back some convertabile bonds, likely to buy back more. Meeting or exceeding sales targets, diversification of business to reduce earnings risk and trading at about a 5.5x fy11e PE. Seems like a reasonable buy....