Been accumalating ADW for the last few years. Recent trading statement indicates 115% - 125% increase. This means HEPS of about 20.5c. In addition to this synergistic benefits should continue to increase margins.Previous 6 months earnings were 7.2c which means most recent 6 months earnings were approx 13.3c.Next 6 months will produce approx 15.3c.This puts them on a prospective P/E six months from now of about 7.1. All things being equal they trade at a PE of about 16 prior to interim results which give a six month target of about 450c.Further out they hope to apply for a banking licence and may well prove to be the next Capitec. Well organised small company with a great management team.