RBSMORGANS have put out an analysts report, here is same of...

RBSMORGANS have put out an analysts report, here is same of it.





Equities | Australia | Real Estate

23 January 2012


Buy

Important: The above
recommendation has been made on a
12 month view and may not suit your
investment needs or timeframe. The
basis it is prepared on is summarised
on the last page of this report.

PLEASE CONTACT YOUR ADVISER
TO DISCUSS THIS GENERAL
RECOMMENDATION BEFORE
ACTING ON IT.

TP A$0.24

ILF120123_LongVersion

RBS Refiner

Price (close 20 Jan) A$0.18
3M high/low A$0.185/0.125
Market cap A$79m
Av (12M) turnover A$0.1m
Freefloat 85%
Reuters ILF.AX
Bloomberg ILF AU
Income (2013F div yield) 5.6%

Source:Bloomberg

Price performance

(1M) (3M) (12M)

Price (A$) 0.14 0.14 0.09
Absolute (%) 7.1 7.1 66.7
Rel to mkt*(%) 7.5 8.7 93.0

*S&P/ASX200

Source: Bloomberg

Key events

Date Event

Feb 2012 1H12 result

1QCY12 Announcement re
management structure

Source: Bloomberg

Analysts

Josephine Little

+61 7 3334 4505
[email protected]