AusGroup

Added Ausgroup at 1.04 to my own portfolio today. I see value in the stock after it has fallen more than 30% from 2 weeks ago. The Company has just assured investors of its fundamentals.

AUSGROUP: "No impact from subprime mortgage problem"
Written by Leong Chan Teik
Thursday, 24 January 2008

AUSGROUP is not experiencing any impact from the US subprime mortgage woes. No, AusGroup does not have any problem with credit lines. Instead, AusGroup is riding high on the booming oil & gas and resources industries in Western Australia, which are insulated from those issues.AusGroup’s Kenny Stuart was in town yesterday (Jan 23) to assure analysts that the industry fundamentals remain as robust as last year, if not more so - even if AusGroup's stock price has fallen along with the rest of the market.”AusGroup is on track for growth,” he said. He also introduced John Sheridan, his successor as the MD, who took office on Jan 7. Mr Stuart, 55, has assumed the post of executive director.