Ann: Half Yearly Report and Accounts, page-10

The Cash flow statement and income statement are two separate things. The contract assets as highlighted show they are owed payment for work done.

Yes, the margins are slim, but in value terms paying 22M for a company that generates 7.2M every year is a no brainer.

Management has done well to navigate increasing cost pressures and to be honest these results are spectacular in this inflationary environment. I wasnt expecting them to deliver a profit, yet alone a great profit with increased costs lately.

I hope management can keep doing what they do, generating 7M a year on my 22M investment, I am totally happy with that!