Ann: 2019 AGM Presentations, page-6

Note, the result was depressed due to 100% of the historical debts and a chunk of Texan equipment written off last year. That’s a one off as they don’t deal with distributors any more and RDFs current customers are almost exclusively forms of govt. Adjusting for that, I don’t think RDF are close to profitability now.... and if any more of those debts are recovered it’d now go straight to NOPAT and give it a real boost!