Ann: Market Update - Profit Guidance, page-6

Having read all of the AGM speeches I cannot find fault in their professed strategy. It is text book business 101. I read it and am impressed with the words and the direction...but then for three years the words don't convert to the bottom line. The promise of the USA market, the $10m spend on CAPEX to produce/print larger product sizes, the efficiencies in China etc etc. I am going to conclude that the current difficulties are temporary in nature and that over the medium term will revert back to 'normal' earnings.