Just one point I think I need to clarify, when I spoke about earnings I was refering to NPAT not EPS. If NPAT is the same then EPS will be 5.3c taking into account the higher weighted average number of shares in FY17 (~1.63mil). So NPAT growth between 2H16 and 2H17 doesnt have to be that high to get the same FY EPS of 5.6c.
I would also disagree that the numbers were "artificially inflated" due to the weighted average number of shares. The weighted average is needed to more accurately reflect EPS not artificially inflate it. EPS would be artificially deflated if EPS wasnt calculated on the starting number of shares plus any adjustments for how the number of shares on issue has changed over the period.
Other than that I agree with you. I think that long term PGC looks good and am happy to take advantage of what i think is a short term setback.
PGC Price at posting:
76.0¢ Sentiment: Buy Disclosure: Held
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