Reading quite abit about charting downside, and I don't disagree. But its time the value investors will begin to get back into this one.
Why ?
1) Diluted PE at 11 times vs EPS 3yr CAGR of at least 150%. = ridiculous pre-abnormal PEG of 0.07 !!
2) Value of ex-rental and retail earnings streams from royalties are not being considered in valuation or earnings right now. So what if they are crap movies (have you seen the crap foxtel and free to air show these days)...royalties are royalties. As long as they are cashflow positive, which I believe they are, they will further boost earnings in 05, 06.
3) Video on demand DOES NOT impact niche players like MPH significantly. In fact there is reason to believe it will not impact the larger players either ! i.e. DVDs are not purchased as single view items.
4) DVD singles for childrens market is a smart innovation for the company, and further increases my confidence in the company to innovate and leverage existing and new library.
technical out, value in...
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