Ann: 2017 Full Year Results Announcement and Appendix 4E, page-4

On the positive FY17 Delivered

CASH FLOW from operation 32 mil 30% above previous year. this is a lot of money to generate, for debt reduction, accretive acquisition, high div pay out and share buy back.

EBITDA margin 19.6% is very high, and demonstrate how flexible the business model is if they can modify
such major cost.

DIVIDEND 10 c per share at 6.6% yield fully franked. very rewarding for share holders.
the payout ratio from income was reduced from 80% in FY 16 TO 75% this year.

EPS 13.9 C . share price $ 1.52 . PE X 11 IMO very low considering div yield, and the cash flow that
the company generates, it allows them the privilege of purchasing new companies and diversified into new complementing technologies.

let's be mindful that our economy is not growing at high speed and is a bit sluggish in few sectors.
so Cash is king, they have reduced debt from 26 mil to 15 mil 40% down.

Over all, I believe share price will go up, once investors will consider the benefits of CASH FLOW, DIV YIELD, DEBT REDUCTION, STABILITY OF EARNING, and the LOW PE X