EPS figures calculated from Net Profit / 796,403,030 shares outstanding.
GFH share price as of 21 Jul 2008 was 14.50 dhs, so 2008 estimated PE is about 14.50 / 1.91 = 7.6, based on Q2 earnings, which is around half the market average PE of about 17. 2008 PE estimate based on H1 earnings is 14.50 / 2.03 = 7.1, which is a little lower. Although that looks cheap, keep in mind that it's probably typical of a finance company PE in the UAE - most of which seen to have single figure PEs.
Treat figures with caution also, because supplied statements were of poor quality with some figures undecipherable. It always astonishes me that companies worth billions of dirhams can't seem to afford a decent printer, or figure out how to send a decent quality PDF file that shareholders could read.
GFH shares are untraded on the Dubai Financial Market (DFM) in the first hour of trading so far today.
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2008 FY
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