Ann: Highlights of Half year Results December 2014, page-8

Just realised. I incorrectly posted annualised EPS running at A$0.24. Of course it should have been US$0.24. With the A$ at c. 1.29 to the US$ the prospective EPS would therefore be c. A$0.30. Which is why the current market multiple looks absurdly low.

Comparing the trailing MML price/earnings of c. 2.9x with ASX-listed peers, I get:

KCN = -18.4
PRU = -6.3
SBM = -1.2
SLR = -1.2
(all negative because of negative earnings!)

OGC = 5.5
RRL = 7.0
BDR = 8.0
NCM = 11.8
EVN = 13.9
EDV = 26.9
NST = 45.4

But just my opinion of course! I have not yet been able to update the financials for all these comparative stocks and they may well have improved performance over the 2nd half of 2014.
CPDLC