XYZ plc, which is unquoted, earns profit before tax of 80 million. It has issued 100 million

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XYZ plc, which is unquoted, earns profit before tax of £80 million. It has issued 100 million shares. The rate of Corporation Tax is 30 per cent.

A similar listed firm sells at a P:E ratio of 15:1. What value would you place on XYZ’s shares?

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