high pe, page-5

Just a couple of points

Payout ratio of Mermaid Marine's profits per share was 41% last financial year

Price earnings per share on this years earnings indicates Mermaid Marine Australia is at a P/E multiple of

9.43 - 11.32.

This is calculated on earnings of 25 - 30 cents per share.


Therefore the share price of Mermaid Marine Australia, currently as $2.83 is cheap based on FY 2010 earnings


The historical P/E is irrelevant for growth stocks like Mermaid Marine Australia

The above comments are my opinion as should not be construed as investment advice