q for michaelirish on ceu, page-5

I did some (rough) back of the envelope calcs.

Based on consensus broker forecasts of EPS -4 cents per share, and growth rate of 10% in revenue per year (generated nearly all by traffic growth),and 5% reduction in other expenses (which I estimate to be around $150m for 30 june 2010). I estimate breakeven by 2013. Or if take revenue growth down to 8% pa. and reduction in other expenses, breakeven is by 2014, or if adjust revenue growth down to 5% pa is around end of 2015 (kept it simple avg but obviously growth skewed to early years, gradually reducing).

Some rough figures only as need to look at last financial report to use other actuals to validate rough calcs.

The traffic figures in recent quarterly reports supports sort of growth rates shown above. Credibility of forecasts was big issue for this stock as I understan, but seems to proving themselves gradually in terms of delivering increased traffic (alongside opex reduction/savings as identified in last quarterly). I am surprised sentiment is not turning for this stock.