Kingsmen Creatives

[dydx]

•Earnings per share is 3.79 cents for H1FY12. Assume the same EPS for H2FY12, the PER is 9.2 at the last closing price of 0.695.

A full-year EPS estimate of $0.0758 (i.e. 2x of $0.0379) for this FY12 is most undoubtedly way too low, as last year FY11's EPS at $0.0856 was already higher than that!.....
http://info.sgx.com/webcoranncatth.nsf/V...10031857B/$file/KingsmenSGXAnnouncementQ411.pdf?openelement

We have to bear in mind that in a good year, Kingsmen's 2H earnings can be as much as 1.5x of its 1H earnings - this just happened in last FY11, where the operating profit after tax for 2H was 1.79x of that for 1H. So it is conceivable - and entirely possible - that Kingsmen's full-year EPS for FY12 could well hit $0.095. Based on the last done share price of $0.695, Mr Market is now pegging a PER of only approx. 7.3x on this steady business which pays out great, twice-a-year dividends, as it does not need much permenant capital to operate and grow further.