Ceapro achieved 2.8c earnings per share in the first 6 months. In the 2nd half of the year I estimate the profit a little lower at 2.2c per share. This results in a price-earnings ratio of around 14! The stock exchange pays nothing for the imagination in the numerous research objects. Our family holding has steadily expanded its position over the past few months and I think that we now hold the largest position in Ceapro shares.