I've had a detailed look at the numbers.. The VET training is...

I've had a detailed look at the numbers.. The VET training is definitely will be one of the key driving for growth in the coming years.
I quite like the fact that they are the biggest residential builder in VIC. On top of that, there are massive potential for growth in other states.

The only peer comparison that I could find is AV Jennings.. AV Jennings builds in SA, VIC, ACT, NSW and QLD.. Granted they don't build as many houses as Simonds.. But their P/E is also around 13 or so..

Other home builder / land developer like Devine, Stockland, etc are currently trading at around P/E 16-17.. My broker (Morgans) also confirmed today that the demand for Simonds outweighs the demand for APN Outdoor. He mentioned that we could get a full allocation for APN, but for Simonds definitely there will be scaleback.

Are you guys hearing the same thing?