Ann: XIP announces FY 17 results, page-4

I know the results are better than they appear, just how much better is the question.

The underlying EBITDA from the result is 15.5.

The EBITDA from Xenith alone in 2016 was 9.2
From the earnout calculations -
The annualised EBITDA from Watermark was 3.
The annualied EBITDA from Giffith Hack was 14.2.

Add those up to get a 26.4 which is an improvement of 70%

I might buy more coming to the H1 2018 if its around this price.