This table is exactly the same as the previous one, but the only companies included are those that pass the REFS four-year test of EPS growth. The tables are therefore far more meaningful and should help to draw attention to neglected or under-valued growth shares.

The level of the PER is the key point for inclusion in the table, but close attention should be paid to the PEG as this is a more reliable measure of the price that is being paid for future growth.