Ann: Change of Director's Interest Notice - B Elton, page-3

I have a different opinion. Elton has been consistently happy to buy so I see that as support of the current strategies. The doom posts re banks was never a consideration for me. The $15 million debt equated to about 6 weeks revenue so I always considered we were safe from banks having control. The net margins in surveying are set to rise for a variety of reasons. These reasons include: 1. reduction in costs as offices are now shared, 2. Synergising processes such as ease of paper work including invoicing, 2. The ramping up of survey contracts as they kick in, meaning a more productive use of workforce time, 4. Better pricing as new contracts can be better priced accepting that we need to get better margins and that there is less need to hire out due to the increased workload mentioned in 3. 5. Less time in training staff in the company's processes etc so there will be greater productive time.
I like the progress of Elton and Aqura which will further lift the underlying profit. That we made 200K net in the first half despite all the doom and gloom, tells me we can easily lift the net profit into the millions, and with that, sustain the dividend. I've been an active buyer, like Elton.