Vayama,Those numbers look a little cynical to me. How did you...

Vayama,

Those numbers look a little cynical to me. How did you calculate them? It looks like you have taken the last half actual profit, then adjusted it for shares which were not issued at the time and for tax which they did not have to pay.

Certainly new shares have been recently issued, but the funds raised will only help contribute to future earnings, not past.

Analyst forecasts for the 2008 FY EPS vary from 5.1 to 6.2c. This places them on a forecast PE from 8.7 to 7.2, very low in the current market for any share, especially one in a rapid growth phase.

Future earnings are never guaranteed for any stock, however the future potential in this stock is enough to justify the risk, IMO.