Additional Question for IC Regarding Forecast EPSMatthew
Pre-tax profit forecasts appear to more than double from 2014 to 2015 whereas the earnings per share over the same period appear to decrease slightly, given that Ithaca is not planning to issue more shares as far as I am aware, why do the pre-tax profit and earnings per share forecasts not correlate more closely?
Doug
No reply as yet. Has me baffled this one. I know that EPS is calculated from a slightly differnt profit level to pre-tax typically giving a small discrepancy, but this is huge and such a discrepancy is usually linked to a majot share issue, which I do not believe is the case. Morningstar have the broker forcast EPS for 2015 at c£21, which equates to about $35 which is as expected - i.e. in line with pre-tax profit growth forecasts. Perhaps IC just made a mistake here - any thoughts?
Doug