Ann: Trading Update, page-5

I thought results were reasonable and the traction in the US is more important LT than Australian market weakness. The ability to generate free cash flow is evident by the reduction in debt by nearly 15 m this half even after buy backs. They have invested heavily over last couple of years and this will bare fruit over the medium term. Trades at a sub 10 PE and there will come a time when all engines , US , AUS and AG business are firing simultaneously.
I bought two lots at 32.5 , one for 100k and another 47k off at close