sp, page-6

I agree, PER around 10 times isn't very attractive,

But considering no debt, I wouldn't look at this company as a growth stock.

Take it for a conservative yeild play at 11 cent distribution providing 9% fully franked.

Their long contracts with government and blue chips provides stability.

That and consistent ROE above 30%. I have just entered at average price of 1.25.

Cheers