Ann: FY18 Half Year Results Announcement Date, page-7

Danny if you really want to know how to value the company, value it based on its operating cashflow. Earnings is irrelevant, in the end the question should be if you were to buy every stock of Shine and take the company private, what kind of return out of operating cash would you want to make? I calculated about $1.15 based on a tax free return of about 8%. My exact figures have been posted elsewhere.

People are throwing their money after far less yield, but of course the market wants to see that without any acquisitions - that is, money spent out of financing/investing activities, can the company still produce the same amount of cash in their operating activities. Companies can rack up a lot of debt by buying cases under the guise of investing and then booking the profits as operating cashflow. If there is zero or negative growth then its worth asking questions and if operating cash suddenly drops off then it spells trouble! Highly doubt that will be the cases in this instance, as you can see from my disclosure I believe SHJ is a worthwhile investment.