For which fiscal year did P&O earned more than 30 million?

In the posting And So P&O Earnings Are Said To Be Inline With Expectations, I asked a very simple question.

• For which fiscal year did P&O earned more than 30 million?

Why was this question asked?

Let's roll back.

On 31st July 2010, I wrote Regarding P&O: The Stock That Flew Into Orbit and I highlighted P&O amazing buy call from Kenanga Research.

Remember, KN's buy call was based on FY11 earnings.

• 92% upside to base case valuation of RM 1.15. This values the group at an undemanding FY11 PER of 6x.

Yes we need to ask ourselves how muchie is that said earnings estimate. Answer: 43.47 million.

Why?

Because if the said earnings is too optimistic, then........ ? :P

So back to my question:

• For which fiscal year did P&O earned more than 30 million?

Here's my complied table (from Bursa website - pls feel free to verify data cos I could always make a mistake. :D )

Now I could have used data from 2000. That would have been a sufficient guide. And my answer for that question would have been P&O have never earned more than 30 million this decade. Yes, since 2000, P&O have never earned more than 30 million!

Yes.. past data does not guarantee that the future would be the same but.... some serious consideration have to be taken into account, which is P&O has not earned more than 30 million since 2000. And here is K&N, telling the investing public that P&O is cheap because it can earn some 43.47 million.

oO

!!!!!

Exactly!

And yes, to be fair, P&O did earn some 68.325 for its fy 1999. That was the only time P&O earned more than 30 million, as per the earnings report on Bursa website. That's one year in a span of 12 years that P&O earned more than 30 mil!

How?

And yes, I am aware that ..... sometimes... there are days when earnings and fundamentals just doesn't matter. :D

And yeah, some would quickly correct my flawed ways by saying... P&O rally won't be based on earnings.

It's all about the potential M&A.

Ah... yes... potential M&A's makes stocks very interesting.

Stocks won't be valued in the shambolic ketam way using low PE earnings valuations like when the owners turn priate and privatised their listed stocks. In fact most of the time, they used the 'premium over current traded price' as the valuation method.

No sir!

M&A are so very the special.

They are priced to whatever best possible valuation they could think off.

Hey... willing buyer, willing seller. :D

Hey look at the other ketam stock. They went into collaboration talks only. And the share price doubled! LOL! Love the market yo!


Past postings:

1. 31 July 2010: Regarding P&O: The Stock That Flew Into Orbit
2. 2 Aug 2010: P&O: And The Flying Stock Soars Even Higher!
3. 21 Aug 2010: And So P&O Reported Its Earnings
4. 25 Aug 2010: And So P&O Earnings Are Said To Be Inline With Expectations