going places, page-3

Straight line growth, at a steep angle, for both revenue and profit is likely to please most shareholders. I don't think many will be in the least disturbed by the lack of a dividend, as long as company earnings continue to grow strongly.

The RDF business model appears to give an unusually strong underpinning to earnings. The operation is looking more and more like a solid infrastructure-type investment, but with growth added. A PE of 30 on last year, 18 for the current year, and 12 for 06-07 makes it hard to argue a case for them being overpriced.