invigorated board and new direction, page-8

Agreed but even if it can increase EBTIDA to $1.0 billion (50% increase on FY10 and highly unlikely) and leaving interest, depreciation, amortization and tax rate constant, I still only get a NPAT of $448m and an EPS of $0.15 per share.

Based on this AIO has the following P/E's

$2.00 13.33 times
$3.00 20 times
$4.00 26 times

Based on very bullish earnings over the next 1 - 4 years I can see that AIO could get to $2.00 - $2.25 (which is why I hold) but I dont think that it will get to $3.00 to $4.00 any time soon unless an outside party (with too much money) decides to over pay for assets.

Good luck to all!