Originally Posted by
BlackPeter
Well, lets face it - every report is last years story - but still - quite solid result. They managed to get all divisions back into profitability, particularly pleased about the increased earnings at the doctors and at the community services division.
Despite some non cash write offs (the still rather new CEO creating a favorable baseline for future gains?) still EPS of 9.4 cents.
Overall - not really a growth story (though the recession might offer some buying opportunities), but hey - whats wrong with a solid health company with a (long-term average) PE of 10? Sure - SP unlikely to double in a hurry, but in my view as well unlikely to be cut in half.
They did hold the dividend payment back, but unless terrible things happen divi's will be reinstated in November.
Discl: hold;