Forum Archive Index - August 2000

[Brian Gale <brigale@i4free.co.nz>]

  Robert.
             I stand corrected, I was looking at the note at the foot of 
the NZSE announcement, that's were I got my 11.1 cents from. I now see the 
figs you quote. Again they were trying to exclude the goodwill amortisation 
in that footnote.  That $40M left on the balance sheet is hefty.

         So my hope to salvage something from the ashes has been dashed.

         Only bright spark left is the price is showing some signs of 
recovery today - hope it isn't short-lived.

Regards
Brian


At 11:07 16-08-00 +1200, you wrote:
>Brian,
>Advantage's true EPS are 5.9 (basic) and 5.79 (diluted).
>This gives a P/E ration of approx 47 (based on price of $2.82).
>EPS actually fell from previous year (8.78 basic, 8.11 diluted)
>These EPS figures are from the NZSE announcement of 11 August on the
>appendix 1 form in compliance with the Listing Rules.
>
>Your EPS figures are from the much criticised announcement of 9 August and
>are based on Advantage's "normalised" profits.   The difference between the
>two I understand to be primarily amortisation of goodwill.
>
>Amortisation of goodwill is not a one off item, as it is written off over a
>number of years.
>Regards
>Robert
>(hold no ADV)


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