Ann: Chairmans 2018 AGM Address, page-9

I think between here and $6.50 is fair value until we get the next set of results. They also don't seem to be very good with keeping the market informed between results so we probably won't get any further update until then. I find it interesting that in a market that is extremely keen on growth prospects these guys have a clear platform for many years and demonstrated strategic progress but are only trading on a PE of 18 (which is really lower considering how much the earnings will jump when the new stores are integrated). While that isn't cheap it's still growth at a reasonable price and includes a reasonable fully franked dividend which will also most likely be lifting at the next set of results. This might partially be down to a lack of broker interest. Many of them don't seem to like the franchisee model as CKF is pretty beholden to YUM.