Announcement basically confirms the numbers I posted a month ago:
Subject some numbers to consider
Posted 02/03/05 20:34 - 70 reads
Posted by Ocker
IP 144.132.xxx.xxx
Post #529311 - start of thread - splitview
WEB's financial's indicate they are operating on a gross profit margin of just on 5% of sales.
Using this number, plus other figures provided by WEB one can do some analysis to help assess whether the stock is cheap/expensive.
Using January actual sales, plus Feb's actuals, plus Feb's actuals compounded at 4% p.m. you end up with sales of $129 mio for the year, and gross income of $6.256 mio.
Using the Jul-Dec half costs of $290k p.m. and compounding these costs at 2% p.m. you get costs for the year of $3.967 mio.
This gives a NPBT of $2.29 mio for this calendar year.
With 207m shares on issue, the NPBT e.p.s. is 1.1cents,
and with WEB's price at 20.5c you get a p.e. of 18.5.
Of course the above numbers are predicated on WEB being able to continue growth at 4% compounded monthly(which gives a Dec 2005 sales number of $12.5mio), and hold costs at 2%. This incidentally would reduce their cost/income ratio from 77% to 57%.
To my mind they are both BIG "ifs", which still leaves you with a relalitvely high p.e. of 18.5.
I have used before tax numbers as WEB have tax losses to use for some time to come.
Subject some numbers to consider
Posted 02/03/05 20:34 - 70 reads
Posted by Ocker
IP 144.132.xxx.xxx
Post #529311 - start of thread - splitview
WEB's financial's indicate they are operating on a gross profit margin of just on 5% of sales.
Using this number, plus other figures provided by WEB one can do some analysis to help assess whether the stock is cheap/expensive.
Using January actual sales, plus Feb's actuals, plus Feb's actuals compounded at 4% p.m. you end up with sales of $129 mio for the year, and gross income of $6.256 mio.
Using the Jul-Dec half costs of $290k p.m. and compounding these costs at 2% p.m. you get costs for the year of $3.967 mio.
This gives a NPBT of $2.29 mio for this calendar year.
With 207m shares on issue, the NPBT e.p.s. is 1.1cents,
and with WEB's price at 20.5c you get a p.e. of 18.5.
Of course the above numbers are predicated on WEB being able to continue growth at 4% compounded monthly(which gives a Dec 2005 sales number of $12.5mio), and hold costs at 2%. This incidentally would reduce their cost/income ratio from 77% to 57%.
To my mind they are both BIG "ifs", which still leaves you with a relalitvely high p.e. of 18.5.
I have used before tax numbers as WEB have tax losses to use for some time to come.
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