Good set of results from Kengen. I was expecting heavy financial costs especially from the forex loan due to the nasty volatility experienced last year. Dividend hiked by 20% to 60cts. At the current price of 8.35, the dividend yield is 7.1% while P/E now stands at 6.52. With the numerous projects (Geothermal/Wind/Solar) the longterm prospects look rosy.
From a trading perspective Kengen has been defensive since 2011 and based out at 6.50 - 7.00 level early 2012. I expect the pessimism to be brushed aside by this results. First target aims 10.20/- then 12.80/-
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!