AEI

AEI: Counter has been making new 52 wk highs, its first being $0.140 on 31 Jan and $0.150 on 21 Feb. The thinly traded counter is in the business of manufacturing aluminum extrusion sections for electronics and precision engineering, and construction and infrastructure building industries. The Company also manufactures, imports, exports metal materials and other related products. Business focused in Asia Pac region. Company could be riding on the robust outlook on the construction and infrastructure industry. However, its most recent results released on 19 Feb noted that the Company's FY12 revenues declined 28% to $41m, with earnings increasing 3280% to $4.9m. This huge increase in earnings came mainly from a negative goodwill contributing $3.6m to the bottom line. The The negative goodwill came from the acquisition of 50% interest in Global Tongyi (S) Pte Ltd, recognised on a provisional basis. What this means is that the net assets acquired exceeded the cost of acquisition. Company trades at 7.5x P/E