It's a pro forma to reflect growth from acquisitions. The market cap (numerator) reflects the capital position taking into account acquisitions made and the market's view of value. To do a PE, you need to have a like-for-like denominator. Brokers are forecasting reported NPAT ~$25-26m, and pro forma ~$38m.
APO Price at posting:
$4.86 Sentiment: Buy Disclosure: Held
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