CSE Global

CSE Global: Secured new orders worth a total of US$95m (approx $115m) in the US in the first 7 mths of 2011. Co is of view this substantial increase (+82% compared to orders secured in the US last yr ) in new orders is indicative of the improving market conditions in the oil & gas sector. In most recent results, co suffered a quarterly loss of $7.0m due to a $21.7m provision for project costs overrun for telecoms projects in the Middle East and reported total outstanding order book of $395.9. Co has fwd P/E of 11.9x close to historical avg of 11.6x