The 08 accounts had EBITDA at $37.9m - less D and A of $4.3m less I of $21.0m less tax of $4.6m gave NPAT of $8.0m
It was quoted above that F09 EBITDA would be $42m which sort of implies maybe NPAT around $11-$12m
Where did you $60m EBITDA come from JR?
They had better do a magic -- say EV of 6 times EBITDA would give a valuation of $250m but heck last accounts said about $200m of debt ... which doesn't leave much for equity does it
Better make it 10 times EBITDA then to make it respectable ... easy as
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