revenue in H2 14.8MH1 26.8Mdecrease of 45% avg pearl price H1...

revenue in H2 14.8M
H1 26.8M
decrease of 45%
avg pearl price H1 103$ piece sold 255K pieces
avg peal price YEAR 84$ sold 477k

pearls sold H2 477K - 255K
so avg pearl price H2 62.2$ <- (222000*X+255000*103)/477000 = 84 reduction of 40% of price


real profit before tax (without change in fair value)
40M-17.4M

Let's approportion for H2 -> (40M-17.4M) * 40% = 9M

So in a Y with current price we can expect 18M (maybe a bit more given less pearls were sold and some were reserved).

With ATP at 0.14, this puts the PE at 5 after taking into account 18M * 70% due to tax


Now the big question is... Will peal prices keep falling?