Ann: Preliminary Final Report, page-46

Interestingly, their brief outlook statement in the 4E, states an improved overall ebitda in FY18. Yes, they are adding a new business, but it sounds highly synergistic with what they already own, and it is effectively paid from cashflow, so non-dilutive. Certainly, there is no risk that they have had to change direction and take serious stock of their position, however, even if ebitda were a measly $6m in FY18, it is still makes a market cap currently of $27m seem very inexpensive. This assumes they are back on track, and will improve from here-admittedly. I am continuing to accumulate and looking forward to the AGM later in the year.