LOOKS LIKE WE HAVE A FLYER.

Premier Direct "Undervalued" Vs Sector

Tuesday, December 20, 2005 3:48:50 AM ET
Dow Jones Newswires

0744 GMT [Dow Jones] Premier Direct (PDR.LN) is to acquire the UK and Irish operations of Oriflame Cosmetics (ORI-SDB.SK), KBC Peel Hunt notes. "This is due to complete in the first quarter of 2006, we expect this acquisition to be earnings neutral in FY '06, earnings enhancing in FY '07." Sees no change to estimates pending completion of acquisition. Says Premier Direct remains undervalued relative to the retail sector. Retains an unadjusted share price target of 228p per share. Shares closed at 142.5p. (SMT)