Royal Doulton: NAV 62p/share, current price 12.5p/share

a harris - surely you mean Feb Finals, not interrims?

A quick sum...

1. NAV from December 2002 financial report - £23.4M
2. Land value based on uncorroborated statement on this BB - around £20M
3. Royal Albert brand name based on uncorroborated statement on this BB - around £20M
4. Royal Dalton brand name based above figure for Royal Albert - (say) around £30M

Assuming (from statement on the BB) that items 2, 3, &4 are not currently in the balance sheet AND that those values are realisable, then value becomes about £93M or 28p per share.

On the other hand, if they are currently in the balance sheet OR nobody wants to buy them (ie they are not realisable), then the value (at last December) is £23.4M or 7p per share.

So, somewhere between 7p and 28p :-)

IMHO, DYOR, etc...