Ann: Investor Presentation - Building a Global Business, page-7

Glad I am a holder - its a great business. Hope the Operating Cash Conversion idiocy has now been put to bed. Although once people have a mind set its hard to change.
Seems shorters and the AFR have done those brave souls topping up at these levels a favour!! We all know what Buffett says - buy a good business when everyone is full of fear.
As I said on an earlier post on another thread paying for good low PE businesses via shares at a high PE is a great strategy and good for share holders. Eg, CTD PE 30, acquires business at say PE15 via use of share issue, CR etc. Once the acquisition is complete and part of CTD each $ of purchased TTV theoretically becomes worth $2. Assuming the Acquisition is EPS positive of course and a sound business. Organic growth from there gives EPS a good boost as EPS not to diluted from the relatively small share issue.