ferret............

COMPUTERSHARE (CPU) chairman Sandy Murdoch had a different kind
of nostalgia to relate.
He looked back to put the present into perspective, reflecting
on what founder Chris Morris "and his team" have been able to achieve
since listing in 1994.
"On listing our staff numbers were 40, our sales for the year
ended 30 June 1994 were $12.9 million and our profit after tax was $4.4
million," he said.
"We were an Australian-based software company.
"Let's look at where we are 12 years later at 30 June 2006.
"Staff numbers were over 10,000, sales were $1.6 billion and
profit after tax was $182.6 million," he said.
But the good part was this ... "If you were lucky enough to be
one of the original shareholders with an interest of $10,000, leaving
dividends aside (we're not big payers) it would now be worth around
$700,000.
"That is a compound annual growth rate of 43 per cent."
Computershare has already set sail for a repeat performance in
the next 12 years.
The shares soared 88c to $8.59 yesterday - thanks to an earnings
upgrade and a buyback - before closing at $8.50.
Hmmm ... 43 per cent compound for 12 more years?
That $700,000 parcel would be nearing the $50 million zone come
2018.