IDN - 2006 - Ever increasing profits

No, guru, I agree.
If, for example, you're comparing two similar companies, one with a tax charge, one without, you have to adjust to make like-for-like.

Also, it's worth noting that the broker pbt and eps forecasts for 2005 and 2006 don't include a notional tax charge:
£0.9m ÷ 387.96 shs = 0.23p/sh, and
£1.2m ÷ 387.96 shs = 0.31p/sh.

So, just being silly, if they can grow eps by another 35% in 2007 to 0.42p, then apply a 30% tax charge, the true 2007 eps become 0.29p.
But...they could (as I've mentioned before) use surplus cash to buy back shares, thus boosting eps or do an earnings-enhancing acquisition, again boosting eps.

It will be very interesting to see what they have to say about their cash 'problem'.