re: Ann: Media Release - FY2011 - underlying ... Interesting that the EBITDA run rate, based on July, is now at $9m but the company backs away from that as FY12 guidance because the student accommodation market is affected when students are on holidays. Most of July is a holiday month for Australian universities so can we assume that the EBITDA run rate to be in exces of $9m. Given further cost synergies and margin improvement EBITDA could be closer to $10m or more.
I wouldn't mind some further clarification on guidance for FY12.
Ann: Media Release - FY2011 - underlying EBITDA u, page-2
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