my top stock pick for 2003/04, page-5

Hi Littletee,

A little misleading there .... but yes, well done.

In your post, you stated:
"It's Profit AFTER tax was around $2.5-$2.7mil".

In ASX/R 2005-3, GBN advised that it had "revised the EBITDA profit forecast upwards to between $2.5m and $2.7m".

EBITDA comes well before NPAT. To work back from NPAT to EBITDA, you must take away the tax, the amortisation, the depreciation, and the interest.

NPBT in the first half was $358,000. If tax @30% was applied, then NPAT in the first half would have been $250,000.