Yes, I agree. If you look at the pure numbers that is front of us it doesn’t make sense.
If you accept without any revenue increases, DMP full year profit NPBT will be $90x2= $180.
Total savings expected from restructuring net $60m and material like cheese, wheat, others $25m(estimate)total of $85m. Assuming $25m has been already booked in the six months figures just published, there is still $60m to realise between now end June 2025. If you recalculate the EPS it will be close $2. As the growth potential is not completely wiped out, as seen the actual six months figures of 1st HY 8%, you can apply good PE . As I have said before US DPZ or McDonald’s valued at Fwd pe of around 28.
On that basis valuation should be $56. So analysts expecting $50 very conservative and that will be my figure too. Mind you this is without any growth revenue considered in the $ calculation. Flat revenue as 1st HY 2024. As DMP get their act together in Japan and France, as they have done in ANZ& Germany, growth could be well above 8%. I suppose for the market, it needs this to be demonstrated by Don & the team before they give them higher PE. To me upside potential is there, unless someone can show me wrong. At these figures DMP is not valued in 35+ like before.
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Last
$38.09 |
Change
0.030(0.08%) |
Mkt cap ! $3.485B |
Open | High | Low | Value | Volume |
$38.00 | $38.37 | $37.82 | $5.625M | 147.3K |
Buyers (Bids)
No. | Vol. | Price($) |
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2 | 2814 | $41.89 |
Sellers (Offers)
Price($) | Vol. | No. |
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$34.29 | 29 | 1 |
View Market Depth
No. | Vol. | Price($) |
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5 | 35 | 38.090 |
2 | 96 | 38.080 |
3 | 753 | 38.070 |
3 | 189 | 38.060 |
3 | 178 | 38.050 |
Price($) | Vol. | No. |
---|---|---|
38.110 | 358 | 13 |
38.120 | 133 | 5 |
38.130 | 171 | 4 |
38.140 | 149 | 4 |
38.150 | 119 | 2 |
Last trade - 15.59pm 14/05/2024 (20 minute delay) ? |
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Last
$38.10 |
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Change
0.030 ( 0.29 %) |
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Open | High | Low | Volume | ||
$37.91 | $38.35 | $37.82 | 10313 | ||
Last updated 15.59pm 14/05/2024 ? |
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