Ann: Half Year Results Announcement, page-3

Another very ordinary result with a report again full of smoke and mirrors.

- Net loss after tax of $6.2M isn't mentioned anywhere in the fluff, I guess an EBITDA of $1.2M sounds better.
- $2.8M revenue from Homeground at 10% occupancy with a value of $92M is a joke. The comment on shutdowns in 2019 is rubbish. All this workforce can be accommodated in Gladstone where vacancy rates are at an all time high. They would be lucky to find a buyer at $10M.
- Overheads still way to high (more than 11%) and similar commentary from 3 years ago on how they are going to reduce them. The rest of the industry does it on 5% or less. Why cant Decmil?
- Some interesting contingent liabilities also.
- Dennis Criddle resigning is quite telling IMO.

How on earth are these guys still capped at $177M?