little concerned... , page-9

Wow, HUGE over-reaction by the market.

Had they not recorded additional non-cash losses (amortized goodwill of NCML faster) and adjustments to GST, they would have increased profits by about 1-2%!

The only thing I don't understand is the additional $8mil they borrowed... On the cash flow statement, it shows "Equipment Finance Settlements" have increased substantially and hit cash flow a little... Anyone understand what these relate to?

If I can understand why they had they drew on their debt facility, this is the back in the 'obvious buy' category for me.

And a 4.5c fully-franked interim dividend to boot! (Total of 10c fully franked!!!)