Forum Archive Index - October 2001

["That Guy" <thatguy101@hotmail.com>]

I recently aquired a parcel of Ebos shares at around $3.10. I had been 
looking at the company for about 2 months umming about whether expansion 
into the Australian market would be wothwhile for this company. A positive 
media statement that was released on 24 October was the final straw. I just 
had to take a slice of this company. It is a small company that operates in 
a sector that I feel has defensive earnings that is not exposed to economic 
cycles. Although I feel there is more upside for Ebos earnings when the NZ 
economy is strong and our dollar is strong than a weak economy. Trading on a 
historical PE of about 16 times, I feel recent acquisitions will make the 
share look cheap in the future. About expanding to Australia. We have seen 
other companies have disapointing experiences over there but for NZ 
companies it is a logical step for growth. I feel with sound management 
quality decsions are being made and the company will see good results from 
their Australian operations. I am not sure what effect GST would have had, 
but in the goods that Ebos deal with I feel it would be insignificant.

Disc Hold a small parcel of Ebos shares
Recommendation Accumulate.

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