CGL might be decent buying at these levels.
It seems the market is distracted by the impact of closing the VET business, which is impacting on Statutory earnings.
In the meantime, continuing operations made 10c EPS in the first half.
If they make say double that in underlying earnings, they could be trading at under PE of 20.
And ROE might be more like 15%, getting into decent territory.
Starting to look like value?
No new contract announcements for some time though, so is there growth coming through?
Gosouth
CGL Price at posting:
$4.54 Sentiment: None Disclosure: Held
