Ann: LHC 1HFY15 Results Announcement, page-3

I agree , this is a keeper for a while . Nice operating cash flow of 6 million which is higher than npat. On an annualised basis if they keep up that cash flow we are trading on very low multiples of ev/Ocf. medical device companies can be good businesses to hold as they have narrow moats in some areas e.g spinal implants . Market will catch up but I do think with the decreased required return and divi yield fair value is between 3.50 to 4 and unless their hedging goes really wrong resulting in currency impacting profits I believe we will see that price this year .