profits may or may not reduce

current predictions:
CSFB 12-13c on 30-40% reduction in profits from 2005 to 2006
Citigroup 15-17c on 62% reduction in profits from 2005 to 2006
Merryl Lynch 15-17c on 39% reduction in profits from 2005 to 2006

How do Citigroup get the same predicted price as Merryl Lynch with twice the loss?
How does CSFB get the lowest predicted price with the lowest loss?

As pointed out below the reduction may not happen, especially with aquisitions.

In 2005 Nylex got $20m profit which was higher than the upper range they had already upgraded.They may or may not yet come in with a good figure for 2006.

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from: NYLEX LIMITED
ANNUAL GENERAL MEETING
HELD AT ALBERT BY THE LAKE
CNR AUGHTIE DRIVE & ALBERT ROAD, ALBERT PARK
9.30 A.M. ON FRIDAY 25 NOVEMBER 2005
CHAIRMAN’S ADDRESS

OUTLOOK.
In terms of the outlook, for the reasons I have outlined, pre tax underlying earnings in the first half could be up to 70% below those of the first half last year. However, as bleak as this sounds, second half earnings should see a much improved situation. Even taking into account the absence of earnings in the second half from the sale of AH Plant, pre tax underlying earnings are expected to be significantly greater than in the second half of last year. Current forecasts suggest a full year pre tax underlying earnings deficit of 30% to 40% compared to last year. However, going forward, a successful implementation of the current range of acquisition opportunities should materially reduce that potential deficit.

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from:
Date of lodgement: 30-Nov-2005
Title: Open Briefing®. Nylex Ltd. MD on Outlook

MD Glen Casey
The factors behind the earnings reduction in the first half were outlined in the AGM
speeches and presentation as filed with the ASX. We have taken strong action to
counter these drivers. Indeed, as I said in my answer to your first question, we believe
the first half FY05 earnings reduction is temporary and will be fully recovered in
future accounting periods. As noted at the AGM, we expect second half profit in FY06
to be much closer to the profit generated in the second half of FY05, even without a
contribution from AH Plant. That is, the underlying profit of the remaining businesses
should actually be higher in the second half of FY06 than in the second half of FY05.
Many of the cost factors on which this positive forecast are based will be “locked in”,
as a result of writedowns, provisions and restructuring costs taken in prior periods.
While there is still risk to this forecast, for example, in respect of revenue generation,
we believe there are grounds for optimism on Nylex’ earnings going forward.
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