NPAT comparison is affected by CST now paying close to a 30% tax rate, however PBT is still down compared to 2H10. Expenses were definitely higher in some areas.
@Blackswan mine too, I'm using RR of 14% and assuming NPAT for FY11 of $10m (probably generous) and I get a value of about $1.80.
Looking on the positive side, the AUD is bound to tank one day and CST will reap the rewards no doubt.
CST Price at posting:
$2.74 Sentiment: None Disclosure: Not Held
