will this sucker drop again ?, page-14

Hi jazz.

You said in a previous email that PPX "P/E for FY05 is 11". How is this calculated?

If we can believe their guidence as of 28/05 (Profit fall 20pc this year), wouldn't that project an EPS of 32.56 and a P/E of 7.4 (Share price at 242)?

Not sure I'm calculating their EPS correctly (just took 20% off the 40.7, which I assume is last years).

Regards