$18.18 third strong day in this area, page-11

pe getting dangerously high 19+ now! PE getting dangerously high 19+ now!

its doing well yes, but PE is 19+ now, use to be like 15-16!

thing is they havent increased forecasts for 2007 and 2008 by much at all, so 2008 forward PE is 14, which is expensive imo, considering forecats for 2009-10 will probably be less than 10%

yield is also very low compared to others in same sector

Earnings and Dividends Forecast (cents per share)
2005 2006 2007 2008
EPS 62.8 99.6 123.5 136.6
DPS 21.0 35.0 40.2 44.6

EPS(c) PE Growth
Year Ending 30-03-06 99.6 18.4 58.7%
Year Ending 30-03-07 123.5 14.8 24.0%

Not much "good news" out also, is it all hype u think?

thx

MS