Fool, page-21

exactly the business model requires PDL's to achieve growth .. no PDL no growth.. however PDL is not factored in P&L... hence company has low PE..

not all businesses financials are the same... you need to dig deeper .. cash flows.. balance sheets... etc...

anyone not the fall of DickSmith and the clever accountancy conducted buy the private equity that sold out at its peak 2.20 .. there is an article on this.. worth the read,..