Ann: Praemium's Australian SMA surpasses $3 billion-PPS.AX, page-15

This stock seems to be drooping in a manner that belies the underlying business. On another stock elsewhere I noted a method that Ballieu use to value these type of IT based solutions. They took a big pile of such businesses and worked out the ratio of EV/revenue and took the average. By their own admission it is a sheep station type calculation at best but they arrive at a number of 6.8 times. Just working off PPS's last HY report the SP should be closer to 50c according to this formula and that is not even allowing for PPS's proven revenue growth that may warrant an even higher multiple.

Maybe Brexit is the problem?? I note that UK operations get a fair mention in the HY preso. Maybe after Thursday if the remain vote wins PPS might have a rocket under it. If leave wins well perhaps the damage will already be priced in by then. In other words if Brexit is indeed the problem then there may be a greater upside risk from here.