Using its $11.6M 1/2 profit as a guide, I still see a company on...

Using its $11.6M 1/2 profit as a guide, I still see a company on >30 P/E (160M shares on issue, SP of $4.35). To take it to $5.00, P/E will go above 35.

National on-line has the P/E at 19.18 but that seems based on:
1.
the FY04 results of $18M+ of which ~$2.5M was non-recurring; and
2.
a lower number of shares on issue (ie: ~90M at the time).

I, therefore, see HSP as becoming progressively more expensive. Could that be why CBA ceased as a substantial shareholder last week?