aus convey value at least $150mln or 46cps, page-3

Hi oppietrader

D&A $0.2m and 'Corporate charges' $0.7m need to be subtracted from your numbers. Maybe subtract 75% of these charges from the 'Convey division' and 25% from the 'Advertising division' ?

The % revenue increase in FY2014-15 for the 'Convey division' may need to be adjusted down a bit because the FY2013-14 half year revenue was much greater than the FY2012-13 half year revenue and therefore the % increase in FY2014-15 revenue on the FY2013-14 revenue will probably be less than 50% (my estimate anyway). I think less than 40% would be a good point to start with and adjust the data as more information becomes available.