Maybe $2m is too high, but i agree with the "rough calc". Expenses and Tax would also need to be flexed.
USD 2 nd half - US$22.6m = A$26m ish - increase by 10% i.e 2 nd half FX rate 80c.
add $2.6m in revenue - after tax NPT increase of $1,8m
We need to factor in USD based cost pre and post tax.
Total expenses were $24.5 million, up 18% against the six months to December 2013. The higher expenses have been driven by three factors. Firstly, the lower Australian dollar has given rise to higher offshore translated costs......
USD based costs guess A$10m? - 10% increase due to FX moving from 88c to 80c - impact cost increase post Tax of $0,7m.
So I reckon A$1.1m NPAT increase H2 versus H1 likely with H2 1AUD = 0.8 USD.
Still good, but i can't see it being $2m.
Maybe $2m is too high, but i agree with the "rough calc"....
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