Went back to my spreadsheet and you are right @Rokewa, the margin was declared at 63%. What fell back was the revenue growth rate which I have at 26% and I confused the two when posting from memory. It is revenue growth which is showing a flattening. I should have fecked my chacts before I posted. However, if you substitute "revenue growth" for "operating margin" in my post, my proposition on value is still the same because the relative value depends on both margin and revenue growth. The SP has fallen back and more or less levelled off after allowing for the usual market fluctuations. I put this down to both the sell-offs by the founders plus Huljichs along with the reduced revenue growth. Good that the margin is holding up, but without the revenue growth at the previous high rate, the company's valuation has reasonably reduced. Now that the company has positive EPS, we can also use PE as a measure. At today's 32.6 I do not think it is too high since the company has continued to show strong growth. Lets see what the next financial report brings forth. I think the trend in revenue is more important for PPH rather than the actual earnings at this stage of the company's development.
