"There is some seasonality with a history of the June half being...

"There is some seasonality with a history of the June half being the stronger"

that's very true alnby, over the last five years H2 exceeded H1 by an average of +35 %

last year little or no tax was paid in H1, but in H2 - 1m. tax was paid and yet the eps was still 3.25 c/s -

multiply 3.25% by + 32% increase in profits + a bit more for further AUD devaluation - say 40%........... .so h2 = 1.40 x 3.25 =4.56c + h1 2015 2.3 = 6.86 c/s est. NPAT for 2o15 - gives a forcast PE of 11.8

if anyone can understand that - its not to bad, and roughly what the average has been for its wildly varying PE has been over the last 10 years

gk.