You're correct, it is like they don't want the sp to go up....

You're correct, it is like they don't want the sp to go up. Management have a knack of presenting results in a negative fashion. The market discounts the share price heavily on account of management and concerns they are much too focused on major shareholder's interests. The property venture is a joke. Let's see at end of year what return it generates, as they are apparently expecting to have completed and sold all apartments by end of September. It would make far more economic sense to buy back shares. That said, despite strong reservations about management, I bought back in today. GRR should be paying a final fully franked dividend of at least 1c which would cost them about $11.6 m, peanuts in the scheme of things. GLTAH.