The 250% EBIT growth is off a tiny base so don't get too...

The 250% EBIT growth is off a tiny base so don't get too excited. More important is the leverage $26m of extra revenue in 2016m = $18 extra EBIT. 70% margin = fantastic. This is like a utility company, extra thruput = more profit at little cost to serve, but customers cant switch easily and there is no regulated rate of return.

Most brokers have increased their 12 month targets to $3-3.20 - but agree this will go much further in a 2-3 year hold. The problem for those looking for divis is that the capex will get serious - with a new Brisbane DC required and a new Melbourne one of the horizon - the good news is that a fair bit of this can be recouped via AJD who will pay for the building shell - the fitouts though are NXTs to fund and are expensive.