what is the value now, page-10

re: questions Huntley's had reduced their price band so BUY is at the 12.30 level, good to read they think highly of management, exactly what I want to hear. Very short extract from your truly, dated 20/7/06-

SHL has provided pathology services to the 1.3m population of Auckland NZ for the last 40 years. Surprisingly SHL has lost this cornerstone contract to Healthscope (HSP) which halves its NZ revenue. The contract had annual revenue of $60m, which is less than 3.5% of forecast group pathology revenues. While not material in an earnings sense it does change our perception of the security of market positions within the global pathology industry. Our earnings forecast remain unchanged but we have reduced our price bands and recommendation to reflect the increase in risk from competition. Higher risk has led us to remove it from our Best Businesses, while we re-examine the company. Conservative investors should hold, pending a full analysis of the FY06 result.