another good profit

The PPN Half Year report was released on Friday.

Another good profit of 3.4 cents a share for the half year coming on top of the 2.6 cent dividend paid late last year. I am looking forward to the full year profit.

If you divide the book value of $10,988,030 by the issued capital of around 32,687,140 shares after the buyback, that works out at around 34 cents a share.

The ABC Stateline show last week talked about the Rialto people wanting to get their hands on PPN's King St building [Bar20] and to redevelop the area for up market restaurants. Perhaps the book value of PPN's King St property needs to be revised.