Ann: Capital management strategy and investment update, page-2

"Advisors appointed to lead medium term debt and capital management review"...sounds like code for a Cap raising next year.

When you look at the FY17 Cash Statement they appear to be funding their acquisitions on a 50% of Cash Ops plus remainder of requirement - split roughly equally - between extra borrowings and extra capital raise. Probably sound thinking.

Suggest people take care when interpreting the FY18 forward estimates on eps. This ann suggest 48% increase on FY17 of 20.77c which gives 30.7c
The reality is that the stated FY18 NPAT of $16m over the now 61.191m shares is 26.1c and don't forget their will be another DRP minor dilution next year and a possible capital raising.

But, that said, a great company, well led and with a bright future.