FY17 eps

As we all know, the current consensus fy17 eps is 0.6257.
http://www.reuters.com/finance/stocks/analyst?symbol=BAL.AX

I am starting to think this is too high. Here is my reasoning.

I am concerned about the $15-$20m additional investment in fy17 as flagged by the company.

The CEO answers a question about this investment at the 24:45 minute mark of this Q&A session:
http://investors.bellamysorganic.co...l Year Results 2016 - 246229 - 190816 (2).mp3

The analyst asks if the additional investment will result in a lower margin in FY17. The CEO answers by saying "the 15-20m is over and above what our normal cost structure would look like, so thats what we want you to take away from that message". Then she goes on to say "we see fy17 as a transitional year for us, where we want to make sure we reinvest back into the business, to get those platforms in place, so that going forward in fy18 and beyond we can look to continue to grow margins".

So if we use the current fy17 revenue consensus of 360m and maintain the fy16 ebit margin of 22.2%, we get an ebit of 79.9. Then if we take out the 20m additional investment we get a final ebit of 59.9 at a margin of 16.6%. From that I guestimate an eps of 0.428. At $12 gives a forward pe of 28.

	Column 1	Column 2	Column 3	Column 4
0		FY15	FY16	FY17f
1	Revenue	125.3	244.6	360.0
2	EBIT	12.3	54.3	79.9
3	EBIT margin	9.8%	22.2%	22.2%
4	FY17 Special Investment			20
5	Final EBIT	12.3	54.3	59.9
6	Final EBIT margin	9.8%	22.2%	16.6%
7	NPAT	9.07	38.32	41.94
8	Shares outstanding	92.53	96.35	98.00
9	EPS	0.098	0.398	0.428
10	Share price	2.0	12.0	12.0
11	PE	20.4	30.2	28.0

Any thoughts?