prelim ann report, page-8

initial thoughts:
profit figure looks OK considering the number of acquisitions during the year.
Still a lot to explain though. The balance sheet is not looking as good as expected but there is a one-off $4.9million receivable (see note 29) due at the end of September - perhaps they are waiting for some certainty regarding this receivable before deciding on a dividend (well I hope this is the case. they are not saying it is impaired).
there is still around $9 million in possible deferred cash consideration to be paid for some of the businesses(listed as a current liability). that cash needs to come from somewhere and I wouldn't like to see their banking facilty at its max.
And does anyone know anything about Alloair yet - the tie up with ASU was mentioned in an earlier post on this site and that looks to be the case. check out www.alloair.com - the description of the technology matches the ASU(Alpha technologies) hand dryer technology - so what exactly does Allomak own and what does ASU own regarding this technology??
Lets hope there is an investor preso soon to give some explanation.
I think the company is yet to prove the pure cash generating ability of some of the newly acquired businesses, althought it may be the case that cashflow is poor whilst the businesses are expanded (but they need to explain this). Might have to wait another reporting period to see this company hitting full stride.
If a final dividend isn't paid then the management are going to lose a lot of credibility - might make it even harder to raise future capital through share issues.