The things with Stocks Ashley is people value businesses by different methods. But for some reason the operating cashflow people are alway so blinkered and think their religion is better than the others.
1) What do you determine the EPS to be for the second half ?
2) What factors would you say would not equate to this being repeated ?
3) Do you honestly believe legal work is seasonal ?
What your methodology and valuation ignores is the $300 million dollar asset that is Work already done, but not paid for. Shine could close its doors tomorrow, run off and get paid additional costs to close off all existing successful cases and it would Net off over $250m after shut-down and run-off costs.
Write off were historically done in only one of the half, which is the pattern I was drawing attention to, with my note that this will be the first full 12month period in a while.
SHJ Price at posting:
71.5¢ Sentiment: Buy Disclosure: Held
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