Remember there is a fair difference between underlying and reported EBITDA and we cannot get these two mixed up. If we keep margins the same as they were in FY15, then the difference between $9.9M EBITDA (underlying) and the $5.09 EBITDA (reported) = $4.8M which equates to one off costs. I simply went on the assumption that it will be a similar year this year on margins and one offs based on revenues (I could be very much out on that front) so I'm applying similar metrics on FY16 which meant on EBITDA of $15M (underlying) will see a reported EBITDA of ~$7.7M (yes I acknowledge that one offs could be a lot lower and probably will be driving reported EBITDA higher). On $7.7M reported EBITDA we will se ~$5M in NPAT.
So for the NPAT to rise way past $5M and closer to $10M, the one offs have to be less than FY15 of $4.8M, which is doable but highly unlikely as we have seen and probably will see further acquisitions.
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