view on chairman & md's report, page-3

In addition to the information from sagh and RStuff, I would add:
* Highly profitable with ROE for FY13 around 16-18%.
* Low dividend payout ratio of around 25%, likely to increase with time as more capital is returned to shareholders.
* Franking likely to increase from 0% to 100% over next couple of years.
* Forward P/E of 6.8, assuming 10% growth for FY13.

In the current economic climate, I am most comforted by holding NFK, given its zero debt, high profitability, market strength, proven competent management and growth outlook.