Ann: Trading Update-PRT.AX, page-20

Interesting video on Switzer TV on the power of TV advertising and the fact it is by far and away the more impactual Form of adverstimg .-
Also interesting is the small change in actual ta minutes viewed in the last 3 decades and how advertising spend in places like UK is increasing


In my view PRT represents one the best risk return investments on the ASX . Even if price goes nowhere - one achieves a 17.8% grossed up yield while being comfortable in the knowledge the business generates 25% of its market cap annually in earnings. In reality I think we will see 25-35% SP appreciation assuming no TO. The market trades on a PE of 16-17 and a yield of 4%.