Well the result did not contain the upsurge in rev in 2HFY11 i had anticipated. Div still exc at 6c=12ffr for full year. Although the initial report is sparse (look for presentation later) the good news is the increase in consulting staff numbers. Consultants bring in the income via billable hours. DWS would only hire more staff if there was work for them. Also new office in Geelong has opened and "new clients added in all regions". Hence i reckon FY12 will be more profitable than FY11.... but not to the extent i had anticipated 2 months ago. The high divs will support SP.... but a strong rise will need announcement of a new contract or two. Hold.
DWS Price at posting:
$1.34 Sentiment: Hold Disclosure: Held
