@Klogg Morrisons adjusted for the $7m cash and the fact that the business should have doubled only looks great on a historical basis.
@klogg look at the cash flow statement, look at the cash losses from share trading, cash is a balance sheet item, it reduces cash, yes you are right there are not accumulated losses in the retained earnings just $1m less from GC's share trading activities.
GC share trading not why people invest in SEQ
Ann: Board Changes, page-9
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