Ann: Appendix 4C - quarterly-SBB.AX, page-9

Hi Pbnewby,

Without commentary or any associated financials all we have is prior reported financials to use as a guide.

Cash flow does not = profit- the businesses working capital cash flow cycle is leveraged toward the first half & the MD is a master of cash flow management.

Revenue reported at the half year mark e.g last year =95% of cash sales - so on that basis sales revenue is likely to be down on the same time last year but is stablising when you consider 30/6/ 2015 revenue was down 17% against that same period in 2014.

cheers