I couldn't’ agree more Marsc…bang on. I don’t buy the new BS - rent is rent - it is an expense and it should be reflected in Cash Ops - period! My biggest metric is traditional old Enterprise value divided by EBIT - because that is EXACTLY what you would look at if buying the entire business. if anything has been learnt by numbskull me in recent times it is to study the pedigree and honesty of the jockey ( CEO & CFO) because these recent changes have given them more ways of altering the perception of reality in the photo finish.
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- Ann: Appendix 4D and Half-Year Financial Report
Ann: Appendix 4D and Half-Year Financial Report, page-18
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