Debt EOFY09 $455m, Debt EOFY10=$201.7m-$20m (NZS stake) =$181.7m.
Average debt over FY2010 = ($455m+$201.7m)/2= $328.3m. Net interest paid $25.3m over FY2010.
Estimated interest bill FY2011= $25.3m( $181.7m/$328.3m )= $14m
Boost to net profit because of lower interest bill = $14m(1-0.28)= $10.0m
=> projected profit (everything else equal)=$23.3m+$10.0m=$33.3m or $33.3/758.4= 4.4cps.
SNOOPY