Recently listed timber producer, Australian Growth (AGW), has...

Recently listed timber producer, Australian Growth (AGW), has indicated a full year after tax profit (to June 2002) of approxmiately $5.1 million.

AGW has 42,166,605 shares on issue.

AGW last traded at 14 cents.

That works out to an after tax profit of 12.1 cents per AGW share, or a Price Earnings ratio of 1.16.

I think it's a good deal. Obviously the person who just sold to me doesn't.

Any opinions out there?


Regards,