CITIC Offshore Helicopter's high P/E ratio is worrying due to its lower forecast growth. The current investor sentiment and future expectations may not sustain the high P/E unless conditions significantly improve. The prices may be unreasonable under these circumstances.

The lack of change in CITIC Offshore Helicopter's ROCE and capital employed suggests it may be past the growth phase. Unless these underlying trends turn more positive, the company's potential for substantial growth is questionable.