A good quality company trading with a large margin of safety

Company OD

Quarter	High Pr	Low Pr	ttm-eps	High PE	Low PE
1	10.18	10.02	72.91	13.96	13.74
4	9.15	9.09	72.67	12.59	12.51
3	9.08	9.02	72.60	12.51	12.42
2	9.22	9.16	70.69	13.04	12.96
1	8.76	8.65	69.27	12.65	12.49
5	8.76	8.65	68.84	12.73	12.57
5	8.71	8.63	67.16	12.97	12.85
5	8.77	8.74	65.56	13.38	13.33
5	8.50	8.35	64.06	13.27	13.03
4	8.74	8.62	61.39	14.24	14.04
3	8.98	8.75	58.74	15.29	14.90
2	8.67	8.62	57.70	15.03	14.94
1	9.27	9.10	56.02	16.55	16.24
4	8.42	7.65	53.95	15.61	14.18
3	7.77	6.94	23.44	33.15	29.61
2	7.00	6.62	15.99	43.78	41.40
1	7.08	6.60	12.33	57.42	53.53
4	6.86	6.31	7.95	86.26	79.35
3	3.72	2.97	35.51	10.49	8.35
2	3.86	3.52	39.10	9.88	8.99
1	4.28	3.39	38.52	11.10	8.81
4	5.48	4.97	40.87	13.42	12.15
3	5.59	4.72	46.21	12.09	10.22
2	4.72	4.41	46.26	10.20	9.54
1	7.28	6.07	47.82	15.23	12.69
4	6.51	6.07	45.75	14.23	13.27
3	6.90	6.57	42.91	16.07	15.30
2	7.17	6.57	41.49	17.29	15.82
1	7.01	6.23	39.46	17.76	15.80
4	6.40	6.12	41.06	15.59	14.91
3	5.96	5.74	37.07	16.07	15.48
2	6.12	5.85	38.01	16.11	15.39
1	6.34	5.90	39.24	16.17	15.04
4	6.46	6.18	37.78	17.09	16.36
3	6.29	6.01	39.27	16.02	15.31
2	6.90	6.12	39.48	17.47	15.51
1	6.62	6.46	38.00	17.42	16.99

Quarter	Q1 eps	Q2 eps	Q3 eps	Q4  eps	FYE eps	Div
0-Jan-00	17.87	0.00	0.00	0.00	17.87	0.00
31/12/2012	17.63	18.64	19.11	17.29	72.67	65.00
31/12/2011	17.20	17.22	17.20	17.22	68.84	36.00
30/06/2011	14.53	15.72	15.60	15.54	61.39	60.00
30/06/2010	12.46	14.04	14.56	12.89	53.95	55.00
30/06/2009	8.08	10.38	7.11	-17.62	7.95	0.08
30/06/2008	10.43	9.80	10.70	9.94	40.87	31.72
30-Jun-07	8.36	11.35	10.76	15.28	45.75	44.14
30-Jun-06	9.96	9.32	9.34	12.44	41.06	46.90
30-Jun-05	8.51	10.55	10.28	8.44	37.78	56.55
				Sum	448.14	395.39
				DPO	88.2%

Latest share price $10.18

ttm-EPS 72.91 sen

Last FY DPS 65 sen

DPO ratio 89.5%

P/E 13.96

DY 6.39%

Historical P/E range 12 - 16

Historical DY range 4.86% - 6.27%

Estimated EPSGR 8% per year

Present risk free interest rate 4%.

Assuming no growth in its earnings or dividends, and using 4% risk free interest rate
as the discount factor, the present value of:
1.  The earnings stream is equivalent to an asset of  72.91 sen / 4% = $18.23
2.  The dividends stream is equivalent to an asset of  65 sen / 4% = $16.25

At present per share price of $10.18, its upside potential is $18.23 - $10.18 = $ 8.05.

Its downside risk is protected by its dividend yield which is equivalent to an asset of $16.25.  This value exceeds its present share price of $10.18 by a substantial margin of $16.25 - $10.18 = $6.07 per share.

That is, its present share price is at 37.45% below its intrinsic value (the value supported by its dividend yields).

Given its good quality of its business and the large margin of safety at the present market price, this stock is a BUY.