You pay a P/E premium for earnings growth, quality and strong balance sheet.
Tradinf at 14.5 *FY09 by my estimates, which is a modest valuation given we've had 35% EPS growth in recent times. I much prefer to invest in LEI at 14.5* knowing there will be double digit EPS growth than invest in banks at 10* with flat/falling earnings
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bean counter assistance pls, page-2
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