I did a back of envelope calculation on these figures and am...

I did a back of envelope calculation on these figures and am surprised with MNF (again). Looking at the additional return on the three new investments, and adjusting for loss of interest on cash, new depreciation, etc etc and I come up with additional income of $2.8M for a full year. Seems incredible. No adjustment was made for new staff costs etc, as I presume these are included in the figures given.

This would only apply for in the second half of 2012/13 (say %1.4M), so will not appear in the December half results. Such an increase on a per share basis (adjusting for new shares issued during 2012 2nd half) would be 40% per share.

Total earnings for 2011/12 was $3M (which was up 200% on a per share basis on 2010/11). An extra $1.4M, not counting any other increase in profits on ongoing operations for the current year, is something to look forward to.

Half year results out 28 Feb.