Apparently broker Collins Stewart have a current NAV per share of 121p. Pre tax forecasts for this year are US$8.5m, rising to US$43.1m next year and US$72.2m in 2008. At an exchange rate of 1.9617 this equates to pre tax of £4.33m, £21.97m and £36.8m respectively. According to Investorease there are 70.89m shares in issue and current market cap at a mid share price of 70p is £49.62m.
Assuming a tax rate of 30% this would give EPS of 4.27p, 21.69p and 36.33p and PE's of 16.39, 3.23 and 1.92 respectively. Obviously DYOR to confirm.
Company is a bit thin on newsflow at the moment having only floated in Sep 06 and current PR seems low key. Recent director buy also over £900k already communicated to market. As soon as this company starts making a few noises and confirming results on track then the share price should start to gain some momentum - all IMHO,DYOR.
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