cci holdings set for lt growth

Australia's Leading coal testing services provider CCI Holdings (CHL) recently posted EBITDA of 5.05M up 47% on the previous year (forecast 5M) on revenues which were 19% stronger than last year at 52.3M....they reported all operating divisions are performing excellently and the company has budgeted for stronger operating profit for 05/06 with the first 2 months performance backing up this forecast. the company will likely give a forecast for this FY at Novembers AGM as they did last year.....compared with other services stocks such as WOR, TSE, and UGL CHL enjoys superior sales/EBITDA margins but is priced at a fraction of the others.....priced at just 4.4 times 04/05 EBITDA it lags the other three who are all trading at multiples of 16-20 times 04/05 EBITDA.....this is an emerging growth stock which has been restructured and now has a comfortable debt level and an extra 3- 3.5M in cashflow available after concuding an interest bearing debt to the ATO recently. It will enjoy inherent growth in its coal testing services on the back of mines increasing production and exploration and then flowing through to growing export tonnages for a further 5 years to come.