Danlupi is having a little holiday courtesy of the moderators because he can't control his emotions.
Whichever you cut it I think footsie's forecasts of 16 cps per share are optimistic. 16 cps implies FY08 NPAT of just over $7.4m (assuming a 30% taxe rate) That also implies profit before tax of $10.6m or a 75% increase in profit before tax as opposed to the 30% forecast by the company.
Sure the company can do better than 30% profit before tax growth but 75%? Surely they would have upgraded their guidance if that was the case. It would have been remiss of them not to.
I think they're do closer to 13.0 cps. As you say much better companies at attractive prices elsewhere. No need to hold this one.
PBP Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held