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FGL $5.38

one opinion

  1. Malcom

    123 Posts.

    Bell Potter Securities just announced.

    Foster`s group this week reported a positive result with net operating cashflow jumping from $58.4million to 225.7 million.
    Earnings before interest tax and amortisation in both domestic and international was higher reflecting strong performance, particulary in the US .
    Despite strengthening in the Australian dollar, Beringer still managed an increase of EBITA of 9.6 per cent.
    We are expecting earnings per share growth of about 7 per cent in both fiscal 2003 and 2004.
    With a prospective 2003 price earnings ratio of 14.3 times and a fully franked dividend yield of 4.3 percent. We maintain our buy rating on Fosters and have a price target of $5.10.

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