China Shoto - a mistake with our numbers but…
One of our readers has kindly pointed out a mistake we made last week in our commentary on China Shoto. However, our overall prognosis on the business as a whole remains...
Unfortunately we used the 2008 net profit of £10.3m as our comparative instead of the 2009 net profit of £23.5m. Estimated net profit for the year ended 31st December will therefore be c£16.45m, resulting in eps of approx 69.4p in line with revised broker estimates of 70p.
At the current share price of 278p, this puts CHNS on a historic (2010 financial year) PER of just 3.97x.
We appreciate that on historic multiples…
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