Hi Mosteph, given recent history of management in terms of actuals against targets and also analysts expectations I wouldnt be suprised if full year results come in at or slightly above the upper range which results in EPS at around 3.6 cents per share. Seems HHL selling down has caused the slide in the share price since march however recent announcement has provided the required buyer volume perhaps for HHL to quickly offload its desired sell allocation. Once that has been exhausted surely the share price will move higher as other substantial holders appear to be staying put or building their position. Expectation of a dividend in the range between 1 and 1.5 cents per share for the final dividend will also underpin the share price at or above 30 cents per share. Continued aggresive debt repayment given exceptional cash flows also derisks the company, provides earnings accretion through reduction in future finance costs and also frees greater amounts of future cash and therefore increases the prospect of greater dividend payments in future years. I dont have a position yet but am looking at doing so at current prices.
LGD Price at posting:
30.5¢ Sentiment: ST Buy Disclosure: Not Held
