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
$38.04 |
Change
-0.020(0.05%) |
Mkt cap ! $3.459B |
Open | High | Low | Value | Volume |
$38.00 | $38.37 | $37.82 | $8.370M | 219.4K |
Buyers (Bids)
No. | Vol. | Price($) |
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2 | 8089 | $38.02 |
Sellers (Offers)
Price($) | Vol. | No. |
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$38.10 | 162 | 1 |
View Market Depth
No. | Vol. | Price($) |
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2 | 8089 | 38.020 |
5 | 2056 | 38.000 |
2 | 594 | 37.960 |
1 | 697 | 37.940 |
1 | 26 | 37.900 |
Price($) | Vol. | No. |
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38.210 | 594 | 2 |
38.260 | 1197 | 2 |
38.320 | 697 | 1 |
38.380 | 1329 | 2 |
38.430 | 697 | 1 |
Last trade - 16.10pm 14/05/2024 (20 minute delay) ? |
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Last
$38.10 |
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Change
-0.020 ( 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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