It could however lets look at their FY16 eps c.40c + FY16 Divy c.12c. So assuming 0% growth,
$6 = PE 15% and $7= PE 17.5% before Dividends.
Lets assume they hold onto their Dividends, then
$6 = 11.5% PE and $7 = 13.5% PE
Could earnings go lower than last year? Sure it can but only if they can't sell any more Milk in China.
hope my maths is right. Its very very rough.
Ice
It could however lets look at their FY16 eps c.40c + FY16 Divy...
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