DW8 Growth, page-7350

Thanks Steve, or put another way, on estimated May numbers we're trading on ~30-40x basis at 10c and on forward basis (eg 12 mths inc B2B on forward view basis) we're trading at a significant discount.

So as we move through the gears (and months) unless the SP rises the more our discount to growth multiples increases.

That fall from 20c has shaken a bit of confidence. Some solid but unexciting growth for the last few months, continued in May is great to reconfirm the story is well intact. When we see the first signs of B2B kicking in margin wise (eg June / July) I think we see real movement again.