the best thing about the presentation, page-4

Profit can also be derived from:

-increased asset utilisation (very relevant for NMS)
-increased efficiency (cost reduction/management)
-increased productivity (generally from employees)

It doesn't necessarily simply have to be a function of capital or debt, although clearly having access to adequate funding is a huge advantage.

Low debt, cash in the bank...they're pretty well placed IMO as long as the next 6 or so months can be navigated succesfully.

JT