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$80.96 blackmores limited

BKL Bad News Looming???, page-55

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michaelhp

658 Posts.

27

13/06/17

13:54

Post #: 25246236
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Originally posted by longgame101 ↑

I think BKL is one of the better businesses on the ASX and I also think it is well run.
They are going into some new markets and I think this will always be a bumpy ride. I think not branching out into new areas however would be a bigger mistake.
I've just topped up a small holding with a few more with the capacity to buy again with further weakness - patience is needed.
By my reading they made NPAT of 15m in Q317 (or 87 cents) and reading between the lines to me indicates a FY2017 of around $3.20/share. So on current pricing it is 27PE - a figure that is reasonably high.
The concern for me in the latest figures was the apparent drop of profit margin from over 11% to under 9%. I'm feeling this was more due to invested costs in the business than reducing margins on sales.
The key issue for me is where will the business be in 3-5 years and my view is that earning will be $4.50+ in three years time with risk more to the upside.

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See the updated Reuters report on valuation etc...

BKL Price at posting: $87.00 Sentiment: Buy Disclosure: Held
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0 Great analysis

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