You were that kid that the teacher put that pointy hat on and sat at the back of the classroom weren't you...
OK - I'll type this REALLY slowly....
Open the ENG release and refer to the second last page....
Now check the column headed H2FY09.....
You see a Loss After Tax $3.7m.... ?
OK now go to Note 3C ... $5.4m includes impairment charge of $1.6m.
Now Balance Sheet - Non-Current Assets value in books of $3.7m - what do you think the depreciation change will be going forward?? I'll tell you - rather than $5.4m - depreciation will probably be $1.5m-ish for 2009-10.
So you really believe there's a $7m loss in the wind??
The only groundhog occurance is that you'll GOOSE yourself with another attempted response....
ENG Price at posting:
$1.00 Sentiment: None Disclosure: Held