does no one care , in rare air, page-7

correct me if I'm wrong guys but EPS is actually 0.16 and not 0.27 as stated on Commsec. I think they have incorrectly stated tamawoods eps for 2010 instead of Astivita's. ( probably as AIr was a tamawood spinoff)
read annual report for AIR - they have calculated eps on lesser number of shares than they currently have.

Dividend as I know is scheduled for next year , with a payout ratio of 60pcnt. if they maintain ROE at around 35 then my intrinsic valuation is 2.14 , however since they will be paying out 60 pcnt the valuation for 2012 may drop if ROE drops due to earnings being paid out.

valuation for 2011 is much higher (closer to 3) as 100 pcnt of earnings are retained at ROE of 35. Good stuff!

i will keep a close eye on its cash flow at half year report .
good luck