describe/interpret changes in the price earnings ratios over the time period covered of ASSOCIATED BRIT.FOODS and discuss the potential role of price earnings ratios in the analysis of share prices.

Year 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 FTSE100(PE) 11.94 8.75 17.37 12.21 9.93 11.06 15.78 14.02 16.18 33.43 22.12 11.71 Share Price 8.98 7.06 8.16 10.73 11.28 13.78 22.60 29.57 34.29 26.33 31.05 26.20 ASSOCIATED BRIT.FOODS EPS 0.53 0.55 0.58 0.63 0.74 0.87 0.99 1.04 1.02 1.06 1.27 1.27 P/E Ratio 17.00 12.90 14.20 17.00 15.30 15.90 22.90 28.40 33.70 24.90 24.40 20.50