Ann: SRG - Half Year Announcement and Presentation, page-7

As mentioned on Page 2 of the Results, during the period ended 31 December 2015 there was a settlement payment in relation to the ETP Project of $9.75 million, and acquisition costs of $2.35 million related to the CCM (total 12.1 million).

Therefore don't think the decrease in cash is a concern - evidenced by the fact the company has no debt, 19.5 million cash in hand, the ability to fund acquisitions via cash reserves, WIP of $240m vs $176m in prior period, and the continuation of dividend payments.

Not surprised to see a dip in cash inflows, as they have been focusing on higher margin / lower risk projects (this has been a consistent trend for past few years). More important than the decrease in cash inflows, is the increase in EBIT and EPS.