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RE: [sharechat] Re - Frucor

From:	"Wedde, John" <john.wedde@cit.ac.nz>
Date:	Thu, 2 Nov 2000 10:24:08 +1300

Hi Brian,
You mention Slater's book "The Zulu Principle"
I finished reading it a few months ago and would strongly recommend it. The
Wellington Public Library have a copy for those Chatters in our fair city.
Cheers
John

-----Original Message-----
From: Brian Brakenridge [mailto:brianbrak@xtra.co.nz]
Sent: Thursday, 2 November 2000 09:43
To: sharechat@sharechat.co.nz
Subject: Re: [sharechat] Re - Frucor


Hi Krypt:
 
In response to your query "what figures am I using ?" I went back to check
and think I have screwed up. Last night I scanned my brokers research report
on FRU and took EPS of 13c. In fact another look today shows me that that
figure was actually Normalised Earnings and Reported Earnings were 7.7c.
Thats what happens when you comment without doing your homework. Sorry. 
 
So to recalculate PEG; current PE must be about 25, last night I used very
conservative growth figure of 25% for the next 5 years which would give PEG
of 1 indicating fair value. However if a growth figure of 40% is used (based
on actual and forecast this is still conservative) we would get a PEG of .63
 
I'm still comfortable with the price and future potential. 
 
How does this compare with your calculations. I need to read the "Zulu
Principle" to take this concept further. I wonder if David Reid (our
resident PEG exponent) has done these calculations?
 
Cheers, Brian
 
 

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