Have not previously taken much interest in IRI but had a quick...

Have not previously taken much interest in IRI but had a quick look at the results as the share price has fallen so far.

Current PE is 33 ($4.19/14cps) but no revenue growth in US$ or British Pound markets for the last 3 or 4 years. 95% of revenues are outside Australia, Over the last 2 or 3 years the AUD has fallen against the USD and Pound. Margin has remained constant. So growth in EPS, I think, is largely due to currency.


If I am right, and I would like to be corrected if I have over looked something, but hard to see a PE ratio above low 20s