http://www.PacificBrands.com.au

All daily brands like sleepmaker(where you sleep everynight),slazenger(your shoes), Bonds(Is this your undy now?), dunlop sport.
It says it offering on P/E ratio 8 more, under 9

Is anyone here a subscriber to the inteligent investor ?. i would derely love to hear their review on it ?.

does anyone have any opinions on this one ?

Huntleys says to subscribe

Just downloaded the prospectus (and should have a hardcopy arriving in the mail).

Has anyone had a play around with the numbers yet?

Intangible assets would play a big part - how do you value a brand name?

Is this float and business comparable to BBG? Hope so!

How do you calculate the NTA (or book value) amount?

Is it simply Net Assets minus Intangibles?

Total Assets = 1,884.60
Intangibles = 1181.8

NTA = ?
NTA per share = ?

Thanks

G'day New2waix,

Book Value is Total Assets less Total Liabilities, or in the case ofthis company its Pro Fporma balance sheet at 31/12/03 shows $1183.4m

To obtain NTA deduct from this the Intgibles of $1181.8m whcih leaves enough for a round of drinks in the NTA stakes.

There are to be 503m shares issued so to get the per share value divide by this number.
ie Book value is $2.35
NTA is very small

Thanks Pedro for the prompt reply.

Book Value
Total Assets 1,884.60
Less Total Liabilities (701.2)
Equals Book Value 1,183.40
Number of shares 503 million
Book Value per share $2.35


To clairify NTA:

Net Tangible Assets
Book Value 1,183.40
Less Intangibles (1181.80)
Equals 1.60
Number of shares 503 million
NTA per share $0.0032

Are the above numbers right?

Which numbers would we use to calculate the CVGI for PBH?

Thanks again!

G'day new2waix,
Those are the figures I got too.

I always use Book value regardless, because of the association I see with ROE which I use as a guide to a share I want to own.

As a suggestion do your calculations using both and see the difference, then assess what it is telling you.

Just a quick comparison.

PBH vs. BBG

Book Value
Total Assets 1,884.60 vs. 832.321
Less Total Liabilities (701.2) vs. -281.989
Equals Book Value 1,183.40 vs. 550.332
Number of shares 503 million vs. 202.634874
Book Value per share $2.35 vs. 2.715879992


Net Tangible Assets
Book Value 1,183.40 vs. 550.332
Less Intangibles (1181.80) vs. -517.024
Equals 1.60 vs. 33.308
Number of shares 503 million vs. 202.634874
NTA per share $0.0032 vs. 0.16437447

Have to double check numbers, but interesting so far...


..

For your info Hard Copy arrived to today for those that registered.

I'm on board this one, have a look at what the younger brigade are wearing now
Forget billabong etc Bonds are the go
Some very good marketing & lots of it
Saw the CEO on the Sun business show last week & I thought he was switched on for an old codger
Seems a good long termer, paying a good div & I haven't got many of those
Question is it's price to open, won't be a big stag probably, but my guess is a premium
I've got a solid broker allocation, would be interested to learn how punters who apply to the prospectus go

well will this survive, i think so , the brands are too strong. Debt is the issue though, thinking of tipping my toes into it. Anyone else willing to comment ?