Ann: Appendix 4E and 2016 Annual Report-EPD.AX, page-2

25% more revenue - another $30m... That's good ! $128m up to $160m.

But then - 31% less EBITDA - down from $10.8m to 7.4m.

And - even worse - profit down by 133%.
From a profit of $5.7m to a LOSS of $1.7m.

1/4 more revenue - an extra $30m !
And, still a LOSS. Taking in $160m - and can't turn a positive result.

I don't think they have hit the worst yet. This was a 'we're keeping our head above water' result...