forecast yield of ~8% for FY15?, page-2

There’s more positive than negative with PRT. The reports at the recent AGM were positive - PRT holding it’s own by increasing market share in a down market in 1H. Expectations for the 2H are positive with discretionary retail and agriculture recovering likely to result in more advertising spend. They are aligned with the Seven Network which is the pick of the TV networks for the past couple of years.

Analysts’ concensus for FY15 is same as last year (profit and dividends) and 5% growth in 2015. Their average valuation is $1.05 so presently 20% under value - and if the government do ever relax the media ownership regulations as they have spoken about, then PRT has upside from potential takeover.