If one compares the 2008 account with the 2012 accounts you have 2012 2008 IT IT Revenue 560 406.8EBITDAC 36.5EBITDAC Margin 7% 9% FSG FSGRevenue 0 202.8EBITDAC 0 20.3EBITDAC Margin 10% Total Revenue 560 609.60 Total NPAT 18.1 26.50 Shares 305,585,913 191,473,988 EPS c/share 5.94 13.84 Dividend Payout Ratio 54% 70%DPS c/share 3.5 9.75 Net debt -40 56.90 Gearing 0% 35%Given the target margins for the IT Business dividend of 7 c/Sahre in the next year or so looks very possible. A price of $1.50 per share seems justified.