up almost 20 percent , page-7

Micro Eqities based their valuation (one of them)
On DCF on a net profit of $1.4m fy o8 =23c

Where as the company has reported somewhere between
$2-$2.5 >The first half was only $600k & the second half
only accounted 5mths of the Mead & Johnson contract

There 09 earnings could be $4m+ ( Micro $3.4m budget)
That really doesnt take into a/c any new a/cs
or any profitability from Future foods ($8m soybean mill
50% owned with Austgrain)

They have $8m cash & have already upgraded plant
production to facilite any increase in production,
maybe they may pay us a dividend (doubt it)

What price CLV this time next year?

Answer: higher than today ,bear mkt or not