Crius Energy Trust Tr Unit CRIUF

Attrition rates

[marketsense]

More complicated than previous post.  Its the repalcement rate that counts and the make up
of those replaced customers.  If you can sign higher margin customers,  that will help to offset
your lower replacement rates and also hedging can make a big difference in profitatability.  It's
definately a hands on business that needs constant monitoring and constant marketing.  Not
a business where mgmt can just sit back and become complacent.  I believe they know this
business and what they're are up against.  While its inevitable they will have a bad Q once in a
while,  as long as the stay on top of it,  there is no reason why they can't remain profitable,  pay
the dividend and grow the business.  Due to the nature of of their business,  they have to keep
their payout ratio under control and will most likely continue to trade with a discount to p/e ratio
but you are being well compensated with a way above average dividend.  The other caveat is
debt management.  This is not a company that can afford increasing debt levels as their profit
margins are pretty thin.  Still a decent and well managed company IMO considering the space
they operate in.