In January I published this note <a href="" target="_blank" data-event-type="click" data-event="link_click">(VIEW LINK)</a> stating the view that Adacel (ASX:ADA) was trading around fair value but that numerous opportunities existed for earnings upgrades and for the impressive growth story to continue. Last Friday Adacel announced another profit upgrade for FY16, guiding to 70% growth over FY15 (previous guidance was for 50% growth). That equates to an upgrade to PBT from A$9m to just over A$10m. The company also gave guidance of A$5.8m-$6m for 1H16.