Ann: Half Yearly Report and Accounts , page-3

I thought the result was very good. Free cash flow the main positive and allowed a massive increase in first half divided. Given the increase in share price I would be surprised if they would continue to buy back shares where we are and that should ensure a very strong final dividend too.

Surprised by the positive improvement of the contribution to profit of the loan division and the lack of improvement in the profit of the services division given the higher amount of debt agreements being serviced (margin issue here?).

I have followed this stock since 2005 and first bought in in 2009. Have nearly sold all my holdings and will do so if it goes just a little higher. I think FSA will struggle to achieve significant profit growth going forward into FY13/14 (although they will probably achieve 5-10%). Some people may be happy with that but if FSA gets to 70 Cents on the expected figures for this financial year that is a PE of around 8-9 times and historically (apart from just prior to the GFC) that is expensive for FSA.

Love this stock but feel it is getting a little hot. Happy to buy back in if it falls away. Just my opinion.

DYOR