I just re-read the AGM presentation, to refresh my understanding...

I just re-read the AGM presentation, to refresh my understanding of ERM.
The recent re-affirmation of 2017 fin yr forecasts (provided at AGM) gives me confidence that ERM are heading in the right direction.

While the environment is becoming more competitive, they continued to grow their market share in 2016 (albeit at lower margins than earlier years). This indicates that their customer acquisition and retention skills are well developed, and their value proposition to customers continues to be sufficiently compelling for customers to stay with them over multiple supply contract periods.

The USA business growth (presented at AGM) is impressive, and at much higher margins than the Australian business. I can see the possibility that the US market becomes their profitability mainstay within the next few years.

Given the recent price, I am considering adding to my holdings before their half yearly announcment.