If a recall EMI's profit was inflated last year because of a tax...

If a recall EMI's profit was inflated last year because of a tax credit in the order of $1million or so. Maybe under AFIRS, this tax credit is no longer valid. Makes it confusing I know, but what ever way you dice and slice the numbers, EMI is trading on a PE of around 70. I am completely out for now, and like Analyser will enter if the price drifts lower. Much better value else where.

On the flip side EMI should double its net profit this year. So the PE drops to 35, still a bit of a stretch. Maybe in the low 80s it would be a good buy.

cheers.