Ann: Appendix 4E, Annual Report and Financial Statements-ARB.AX, page-5

Somewhat of a different business model to something like, say, oh, I dunno... Mesoblast?

I see this year's ARB Annual Report has a photo of a military tank on the front cover, which took me aback a bit when I first saw it.

But then I read the footnote which clarified that ARB wasn't about to be branching off into the business of supplying military hardware, but that it was merely using one kind of tank to test the strength of another (military version driving over fuel storage version).


I haven't read all of the notes to the accounts, but in the interests of pointing out the warts in the result I do see that Pre-Tax Profit was flattered by a $2.1m profit from the sale of assets. Adjusting for this means that the first-half was up some 7% on pcp, and the second-half was roughly flat.