(ALFIRDOUS) Al Firdous Holding: Discloses its un-audited interim condensed consolidated financial statements for the period ended 30/09/2008
Al Firdous financial year runs from 01 April to 31 March (most UAE companies are from 01 January to 31 December). Al Firdous Holdings (ALFIRDOUS) profit figures for second quarter 2008 are (EPS annualised in brackets):
ALFIRDOUS share price as of 13 Nov 2008 was 1.14 dhs, so 2008 estimated PE is about 1.14 / 0.01 = 86.4, based on Q2 earnings, which is about 8 times the average market PE of about 11, but at least Al Firdous (or Manasek?) made a profit this quarter (they lost money in 2008 Q1). However, compared to the previous financial year, results are not looking good although it should be noted that the first three quarters of last year were almost all wiped out by a poor fourth quarter. It may not be advisable to compare results from this year with last year, there was some restatement of numbers related to the acquisition of Al Firdous in July last year. Anyway by the time you get to the bottom line Net Profit, there's not much left for shareholders so far in 2008.
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2008 FY
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