TNT Chart, page-1400

I may have calculated the numbers real quick but they are not irrational unlike your 70c prediction. If our current EBITDA is around 9m with 100m sales run rate then at 130m run rate it's about 11m EBiTDA, take 30% off in tax, you're left with 8m, take 2m off in compounded interest from 15m debt(charged at about 10% interest per annum) and you're left with 6m, subtract some amortization and you can easily be in the 5m NPAT.

comparing to AR9 is useless. The stock has has years of growth priced into it already.

i will decide whether to keep holding TNT based on this 4c and the next 2 acquisitions. I want to to see improving margins.