been mulling over past announcements re the importance of the second half to legends.
DUE TO XMAS AND THE JANUARY SALES THE SECOND HALF IS VERY IMPORTANT DUE TO THEIR YEAR END ING 31/01/2002
LOOKING AT PAST PERFORMANCE
interim full
2000 t/o 2.2mill profit 111000 5.3 million profit 398000
2001 3 mill 205000 8.5 mill 650000
2002 5.9 mill 329000 to come probably in June
so in 2000 the 2nd half is 2.4 x the first in terms of turnover and 3.6 x in terms of net profits after all deductions
in 2001 2nd half turnover is 2.8 x and profit is 3.17 x
taking a mean of these would suggest 2.6 times turnover and 3.4ish for profit
giving a turnover of over 15 million and a profit of 1.1 million (the current market cap is approximately 5 million so forward pe is 5)
Now factor in that last two years high street was a tougher place than now could suggest there might be say maximum 10% up lift on this prediction giving me a personal dream scenario target of tunrover 16.5 million , profits 1.2 million. eps in the region of 1.8 to 2p
Once people catch up to the idea this should me on a pe of at least 10 so even on a conservative estimate the share price will be 18-20p. When i met the stewarts at the agm they said the share price could easily handle being double what it is (it was 10p then).
