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[sharechat] RE: What value FRO ?

From:	"Derek Watt" <watt250@hotmail.com>
Date:	Mon, 01 May 2000 08:51:11 NZST

Correction - I used the half year operating revenue for
BCH and not the full year in my previous FRO post.

For completion I'll have another go.

RMG will have 475 million shares on issue
on a forecast operating revenue (June next year)of 72m NZD.

BCH has about 80m shares on an operating revenue of about $54m
EPS 23.4 c

Using the Operating revenue/earnings ratio from Baycorp as
an approximation. (a _big_ approximation!)

The forecast EPS for RMG would be 72 m * 23.4c/54m * 80m/475m = 5 cents

Therefore a share price of 50 cents in a years time seems
reasonable and a share price now of 40 cents seems reasonable.

Derek





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