$6.71 did not hold n/c, page-4

re: $6.71 did not hold Hi Gse,

P/E of 15 still looks high I agree. But I have a feeling this $6.60 level might hold up at least for the moment.

With the depreciation of the $A I expect that we may see the AMC managment promulgate some earnings revisions in the coming weeks?

I note that adverse currency movements cost them about $17 million off the full year profit last year. Not sure what $A level they used but you would think it would be in the mid 70cent range maybe. Anyway earnings could only be helped by the $A being at 68-69 right now.



Cheers,


Christian