As per guidance - back in profit but only marginally. The two...

As per guidance - back in profit but only marginally. The two things hampering better results and a return to dividends are the debt level and the funding costs both standing out like sore toes in the accounts. I pay KJ my respect in that he has managed to turn this around and he has squeezed a profit out despite the crippling rates he is paying. There is no doubt that there will be a big difference in NPAT if he can convince a lender to fund PNC at rates similar to those offered to the likes of CCP. I notice that KJ is now making noise that his points of difference with competitors (mainly CCP) are allowing him to improve his share of the market. The differences he raises are quite reasonable and I can see why they would be winners. Despite being well underwater I remain patient but tired. My original capital or any return still seem quite distant to me.