Ridiculous valuation 1 Oct 2010 10:27
and lack of interest! Very little coverage and next to no PI noise. As suggested, a broker not update here would wake this up.
Post on iii by paesano:
"And significantly GP% has markedly increased (for last 6ms 33.5% vs 25.8% (6ms) and FY09 24.6%), coupled to growing revenue.
You can access the 2008 Edison report here: http://www.edisoninvestmentresearch.co.uk/search/Andes%20Energia
When they published that the estimates they were working on for 2008 are not too discrepant to the 6ms actuals just released - $6.8m PAT for full year (2008 estimate), vs $5.9m PAT for the last 6ms. The increase in GP% is a big move in the direction of fitting in with the Edison forecasts previously, although costs overall appear underestimated by them.
On track to report $27m operating profit for the full year (well ahead of the forecast 2009 figure Edison assumed). An update would be well received but crudely looking like the Edison 2008 broker note has been derailed for 2 years but now back on track. "
