After Daily Planet Ltd [DPL] was reborn as Planet Platinum Ltd [PPN], the company is now one of a select few growing its profit in the current economic climate.
It may be worth taking another look at PPN. The company has new directors and is moving forward after a couple of lean years following some poor investment decisions.
PPN [formerly DPL] does not run a bordello and never did. The company owns a building which it rents to a company that does.
Apart from the rental on its building, PPN's main source of income is Bar 20 in King Street and a half share in the lease of the Royal Melbourne hotel, all profitable well run businesses.
Rather than make derisive comments about this company, go to www.planetplatinum.com.au/ and take a look at the 2008 Annual Report and the proposed share buyback out of its profits.
As I once said to my Bishop, "money doesn't care who owns it!" and "profit is not a four letter word".
PPN Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
