Note that the low end of the EBIDTA forecast for FY12 is 54 mill, so targeted NPAT is around 40 mill.
What are your estimated for interest, depreciation, tax and amortisation? Your estimates look too optimistic to me. I think $40m NPAT would occur from $54m EBITDA only if interest, depreciation and amortisation were nill and only the 30% tax came out.
