EPS figures calculated from Net Profit / 465,315,840 shares outstanding.
RAKCEC share price at close on 30 Jan 2008 was 4.60 dhs, so 2007 PE is about 4.60 / 0.35 = 13.1, based on FY earnings, which is somewhat lower than the average market PE of about 16. Annualising Q4 profits gives a sllightly higher PE of about 14.4, reflecting the decreased performance for Q4.
Not much of an increase in FY earnings so current share price is probably fair enough, maybe even a little high compared to other companies listed in the UAE.
RAK Ceramics accounts do something with their profit figures I've not seen before. They come up with something called a Distributable Net Profit after deducting Minority Interests and Legal Reserve from Net Profit earned. I though Net Profit due to Shareholders included profit which gets transferred to the Legal Reserve.
I'll go and check some other accounts but if anyone knows more and can clarify that for me in the meantime ... ?
(RAKCEC) Result of RAKCEC board meeting and General assembly meeting will be on 13 march 2008 19/02/2008
Disclosure in Arabic. Looks like share dividend of 20% proposed, can't tell if there's a record date. _________________ UAE IPO list | posting guidelines
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