I have been surprised by the lack of commentary arising from this report. Surely everything wasn’t already known to us? It seems a superb result. Anyway if my maths are correct year end profit was A$200m. At a 10 times multiple that values JMS at $2bn. And aren’t there 2 bn shares issued?
Please correct me if I am seeing this incorrectly? Otherwise we should see the SP rise strongly over coming months.
Ann: 2018 Annual Report, page-2
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