Missing out on the Philippine’s OPV contract is unexpected and disappointing. Risk climbs
as the order book falls, however ASB’s use of the cash generated from existing mature
programmes to build capability to take on future work has been well founded and should
reap rewards in time. Our focus remains on the US where we expect to see the bulk of
future earnings and cashflow. In our view the current EV overstates forecasting risk and
we believe that upside is underpinned by the value of ASB’s strategic assets.
To access the full report please log in under the Client Area at the bottom of this page.
Argonaut’s Client Area allows you to view delayed share prices, access Argonaut’s wealth of Research as well as create custom portfolios and set up company watch lists.
If you would like to access our research please contact us to create an account.