Ann: Acquires iQ3, page-82

I think you miss the point of "growth" sectors.

The market shows us there are plenty of investors out there buying Zoom on 500 year multiples, and most of the US cyber plays are trading well above TNT's multiple as many others have pointed out.

I don't rate your analysis here due to this comment in particular:

"If you had 160m, would you spend it on a busines that generates a profit of 11m? I wouldnt."

No?

Where else can you get a minimum 6.875% return pa in a GROWING sector that has plenty of room for an exit down the road?

Go look at the multiples of Apple and other large US companies, they are returning less than 3% pa based on their multiples... and here you are being negative about a figure that sits more than double that.

TNT is one of the easiest buys on the ASX today for those with a 12-24+ month horizon. I don't day trade, so I don't care one bit if it drops to $0.20 tomorrow... I'm here for the long haul, as there is tremendous upside here.