This was mentioned in Shares Mag of 23rd Nov 2006 as a recovery stock.

Then the price was around 37p. It has since shot up 50% in one week to 56p offer today.

Management has grabbed the company's problems by the scruff of the neck and look capable of delivering a similar turnaround to the one that occurred over the last 5 years.

In the year ending 31 July 2005 the company made 3 million post-tax. If they can do that again then they should make EPS of 14p, so a share price of anything from 100 - 140p ought to be on the cards. 180p ought not to be out of the question.

PDR is continuing to acquire profitable businesses and their recent acquisition, Oriflame, has been earnings-enhancing from the off.

Prospects for the forthcoming year look good, IMO. I already wanted to buy at 40p, but got distracted. However, I have taken a stake today at 56p.

All IMO, PDYOR.






EDIT: RNS of 15 Dec 2006 announces that trading for the first quarter of the new financial year, being 01 Aug - 31 Oct 2006, is profitable and that Oriflame is contributing profitably.

Not massively impressed, but if we accept that losses did not finish on the last day of H2 and profits start on the first day of H1, we must assume that there is a rising trend, so 17.8 times does not seem too toppy.
Staying in because downside looks very minimal.
Alan

Agreed.

Plenty of management buying of the shares according to todays RNS.
Not usually a bad sign.
And of course they should be just about entering the closed period.
Alan