They tell you what's happening. Assets have been revalued lower reducing net profit by $7m.
This is a non-cash revaluation
Therefore, it means they'll simply pay less tax and have the same amount of cash in the bank (think depreciation)
If you want to know if its cheap ask yourself the question "what has actually changed".
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- Ann: Update on Independent Review of Asset Valuations
Ann: Update on Independent Review of Asset Valuations, page-26
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