bargain, page-5

slight beat on EPS, 12.3cps versus 12.1cps in the prospectus. good mnngmt of costs helped deliver a solid eps figure.

reaffirmed FY15 forecast

other positives - slightly quicker roll out of stores.

only neg. like for like sales and weaker conditions from budget still affect for the next year. some lumpy earnings with wholesale orders delay affecting revenue.

but conservative forecasts on fy15, esp with low ball FX, they should make their number

this is only trading at 1.10, and with 12cps+ eps is very cheap.

acquisitions being assessed - adds to upside.

no debt.