Ann: FY20 Half Year Results, page-16

some things to note:

- Top line up 25% (however, APT reported 112% growth this morning for example)
- China growing nicely - but revenues in China (at 600k) only represent .2% of total group revenues
- Strong (77%) increase in operating cashflow. Love seeing this!
- gross margin declined 3% - but was affected by an anomaly, otherwise would be up 1.5%
- 126m cash on hand
- divs up 12.5%
-underlying NPAT up circa 32% excluding anomalies

Decent set of numbers. The business is well-funded, expanding margins, and operating cashflows, and profitable, but I think the current valuation (p/e in the 80's now) looks stretched.

Would expect this to be sold off today.

Will still be a LT hold for mine.