Simonds reviews- not very inspiring, page-3

It ultimately depends on your perspective, the company is undervalued at this price. The BAA side of the organisation has not continued to grow at a rate that was anticipated, however, represents a buy out target for other RTO's.the education element is profitable and expanding as is the housing development arm.

While the company can't be expected to return to its IPO level over night the company is moving to consolidate and build upon its core business. Remember the directors hold a good portion of this company, therefore it's in their best interest for the company to grow. if you take into account the founder holds a prominent position which generally means they are more likely to want the business to grow.

The company is one of the largest development companies in Victoria, if you look at the direction the company is moving the next annocement should paint a more positive view of the company.

I would also like to add that Reuters which is more likely a better financial advisor than either of us has the company rated at a buy and at heavily undervalue in their latest report on SIO which was released last week when the SP was over 40c