2007 profit and dividend, page-53

That is the worst piece of financial 'journalism' I have ever seen! If 'RWE Aust Business News' have been accurately quoted by you then they are a bunch of muppets: They have compared STATUTORY profit for FY07 with PRO FORMA profit for FY06! Rather than relying on others why dont you read either the annual report, summary or investor presentation and see for yourself? Rams reported a proforma NPAT of 43.5m up from FY06 NPAT 29.2m. The eps figures they have given are also not particularly useful as they are based on a weighted avg number of shares pre IPO of 28m (rather than circa 355m currently on issue). Real eps are about 12.25cps which means rams is currently priced on an eps less than 9 not an eps of less than 2 that their figures would imply!