It may be conservative if a P/E ratio of 60 was the industry norm, unfortunately that's just not reality. In my view, the growth of our loan book and improvements in profitability are too modest to warrant a valuation of 50cps. The market is not always rational however, so I guess is anything is possible, even if not to be expected.
I would like to see a lot of churn around 12c so that we hopefully stabilise at the current valuation (which I consider to be fair value).
Ann: 4Q24 Trading Update - Growth and strong loan performance, page-114
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Mkt cap ! $92.00M | |||
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