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Re: Re: [sharechat] CLI - Challenger Group - Profit: + 91%

From:	"G Stolwyk" <stolwyk@wave.co.nz>
Date:	Wed, 29 Aug 2001 15:04:57 +1200

Some $ 30 mill. of this $ 154.1 mill. profit is revaluation.

Deduct this and the remaining profit is some $ 124.1 mill.

Predictions are difficult as the new investment in London will still need to prove itself.

As CLI is the main beneficiary of the strong increase in Australian annuities, I am looking at a P/E of just over 6 up to June 30, 2002.

This is based on the current price of $ A 3.80 and some 284 mill. shares. ( This includes DRP shares).

The CEO of CLI has stated that * organic* growth will be the chief growth tool from now on. That ought to put a floor under the share price as because of cash issues - resulting from takeovers - the share price declined.

Analysts are still having problems with the enterpretation of the profit result.

The public will be watching any moves by Packer who has a good stake in the company.

Gerry

Readers are not asked to buy, hold or sell CLI. To do so, will be entirely at their own risk.

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