Following up on the recent full year results which I have blogged on my thoughts here, it'll be interesting to update the valuation methods which I have done a couple of months ago (here) to see where it stands now that we have a more recent FY14 results to input. Previous DCF Analysis Just to give a quick understanding of the assumptions used in the previous model, I have used the FY13 results with a forward growth rate of -1% for the first year and 5% for the next subsequent years. The discounted WACC rate used is 10% with a terminal EBITDA multiple assumption of 11x. The model came up to an intrinsic value of $3.30. Current DCF Analysis I have now adjusted the model based on the following assumption which I think is more reasonable:

• 1% Growth for the next 2 years and 2% for ...

...