AB has stated publically since buying Newsat Networks that all divisions are now profitable/ cash flow positive.
They have also announced that they sold Airworks for $7.5m, which had no carrying value in 2006 balance sheet and as such should be reflected as a full profit on sale.
It was also announced that Newsat Networks prior to purchase was already generating sales of $22.0m pa and net profit of some $3.0m
So based on those both announcements interim results should disclose an interim profit of above $10.0m, ie after profit on sale of assets.
Like a lot of people I am sceptical this will be the case.
My beef is where is the ASX, why aren't they demanding that NWT give $ figures to these announcements - not that hard "we recorded sales of $ in January 2006 and have now experienced % growth to $ in Jan 2007".
This week I have invested in Ansearch of which AB is a majority shareholder - they are required provide monthly sales and cashfow reports
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- come on newsat show us your numbers
come on newsat show us your numbers, page-7
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