VMG 0.00% 0.2¢ vdm group limited

fairfax press cites a great bargain stock

  1. 12 Posts.
    The following was published in both the SMH and Age last Thursday in relation to the VDM group -

    http://www.theage.com.au/news/money/shares-to-keep-you-afloat/2008/02/09/1202234223806.html?page=fullpage#contentSwap3

    "VDM Group...is a shining light in this sector. It operates an engineering and construction business that provides end-to-end services to the mining and civil construction sectors. VDM's operations extend beyond Australia and it has been involved in some high-profile civil construction projects in Dubai. While management expects more project work to stem from that region, its recent successes have been in Australia.

    VDM has flown under the radar since listing on the ASX in 2006 but it shouldn't be too long before the company comes under the spotlight. Three contracts to the value of $67million were awarded in January as the sharemarket plummeted.


    VDM's 2006-07 revenue was $230million, so it could be argued that these relatively large contracts would have a positive impact in a healthier market. However, it is VDM's underlying fundamentals that are likely to lead to a re-rating. Based on consensus estimates for 2007-08, VDM's price-earnings ratio is less than nine times its earnings, and its forecast dividend of 13cents represents a yield of about 6percent."

    The article also has positive things to say about is competitor - RCR.

    BUY, BUY, BUY,
 
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