Hi,Dumb market reacting again by reading headlines only, without...

Hi,

Dumb market reacting again by reading headlines only, without looking into the detail!

"FY11 results reflect a marked increase in operating margins"

Revenue only increased by 5%, but NPAT by 72%, that is huge!

"M2s earnings guidance for FY12 represents a material increase, whilst incorporating a sizeable incremental investment in organic growth and sales expansion"

EBITDA margin forecast to expand again by 32%.

Headline revenue decreasing with the elimination of low margin revenue generating business ($55 million). At the same time predicting for F12 EBIDTA increasing 15% an increase of 33% on EBITDA marging delivered FY11.

Organic growth predicted to be between 7.5% - 10% in FY12....not bad.

And acquisitions still very much on the cards.

While the market again takes a short term perspective I will continue to enjoy the ever increasing divy - now 16cps FY11 and minimum 18cps FY12 as the company continues to grow. Aren't to many companies that have performed so well right through the crisis and well positioned going forward.

SD