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[sharechat] Feltex float

From:	Sue Bilstein <sue_bilstein@yahoo.com>
Date:	Thu, 13 May 2004 03:55:06 -0700 (PDT)

What do people think of the Feltex float?  I'm about
to read the prospectus, but I'm not that skilled at
identifying whether it's a good deal.

Direct Broking sent me a summary that says 
Gross dividend yield FY 2004 (based on indicative
price range) 9.6% - 8.6%.
Price/Earnings (Pre Goodwill Amortisation)  9.8 to
11.0.

This looks good on the face of it, but what about
goodwill amortisation?  Goodwill is the difference
between net asset value and sale price isn't it?  Do
they write that off as an expense?


        
                
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