Buy @ $0.935. In Q since morning, just got done. Yield is 5%+. Temasek 70% owner and rather illiquid. Laggard to the mkt as profit down for FY06 due to S’pore operations, but shld show good recovery (S’pore ops) this year. >50% biz comes fm overseas, mainly Britain. A quick glance at their financials and what I don’t quite like is their 50% gearing and big increase in expenses, likely due to their acquisitions in UK. This is my beach-head purchase and I shld be collecting more at lower prices 😀
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Always thought this is a company that provides food for SAF, but a quick glance ealier found that they have expanded quite a bit!This could be one of those boring biz that Lynch loves to buy. Only problem is its not so liquid.