Macquarie Equities were briefed by new Clough CEO David Singleton and informed that the company would be focussing on cost reduction, risk management, project control and taking the lumpiness out of earnings. Costing would also be given attention and a leaning towards services type businesses. This was published in the West Australian this morning and may indicate a return to dividends and a much more profit orientated company. They valued the company at between 65c and 75c. If he can get the company on the money trail the share price will improve more than the price Macquarie has put on it. Singleton turned AMS NV around in Europe so will find a similarity here.
CLO Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
