EPS figures calculated from Net Profit / 50,000,000 shares outstanding. Asmak made a loss for both 2008 FY and Q4 (based on calculated figures - Q4 data not supplied by Asmak) so a PE calculation is meaningless.
Asmak is one of the more bewildering stocks listed in the UAE. Out of the last 8 quarters, Asmak has lost money in 4 of them, and the best quarter was a profit of just AED 1.9 million for 2007 Q4. On an annual basis, this is the third year out of the last five that Asmak has lost money. Does it take that long to get a fish farm up and running? Yet despite those unimpressive results, Asmak shares have held up well while the rest of the market has fallen like a stone in the past few months. In fact, with a market cap of AED 1.6 billion, Asmak is now a more valuable company than the likes of Aramex (ARMX), Aabar Investments (AABAR), Arabtec (ARTC), Gulf Navigation (GULFNAV), and many others. Maybe I need to take my calculator in to the repair shop ...
ADX 29 January 2009 (during trading):
(ASMAK) Result of International Fish Farming Company board meeting
(ASMAK) International Fish Farming Company discloses preliminary 2008 financial results
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