estimate a small loss for the half year, page-3

Hi Guys,

It seems an outstanding result and the market has got used to this company finding a way to hide it.

In saying that the expected full year result before impairments will be similar to last year, they did forget to mention one thing. Last year's result was outstanding and took us and the market by surprise but it did include a once off $2m insurance payment for the TJM fire. Last year's result also included full interest payments from Hofmeister's company whereas they are assuming that there will be no further interest payments from that direction this year. So the predicted loss of interest will cost this year's full year profit something of the order of a million dollars compared to last year. So I guess what they are saying is that last year's outstanding result will be exceeded by $3m this year if you exclude those two items which don't relate to on-going activities. I can live with that and I am sure they are being conservative with the rest as well.

I wonder why Danny Herceg got out of the oppression case?

GPASAS