Esor's historic half year earnings were: 28c/23c (2008); 61c/20c (2009); 41c/30c (2010) and the staggering 4c/??? (2011). At a peer-related PE of 5, Esor will have to show earnings of 36c in the new half year results. With no new mega-projects or not even so mega-projects from either the state or private sectors, where is this 36c/share going to come from????? Is it not more likely they earn around 10c/share (mainly due to cost-cuttings) which will make HEPS 14c and PE 5 will make share price 70c. Or for how long are we going to cling to hope instead of letting our money ride the commodity and soon to be banking cycles??
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