Ann: Appendix 4E and Annual Report-SIT.AX, page-10

Not what I was meaning. More that there is uncertainty in the whole of the (vet fee help) industry. Captain Cook Colleges (CCC) relies heavily on vet fee help and government could well change the rules for future years

Ah yes, more this. For the tertiary segment, Revenue : EBITDA = ~2.3:1 Does it sound sustainable when funded from taxpayers?

Also noted comment in report: We continue to receive all other revenue payments from government.

I agree the receivable should be fine. So far as I could see last night there have been no specfic claims against CCC, nor much in the way of criticism of the way CCC operates (which is different to a number of other operators).

True and this is good news. The trouble for me is this segment has been unprofitable for FY16. From the contract announcements it looks like there will be higher revenue for FY17, but whether this translates into profit remains to be seen.

I've spent my time here. I did like what I saw initially but the heavy reliance of profitability on and the uncertainty around vet fee help is too much for me.