Ann: Notice of FY21 Results and Webcast, page-12

Strong dynamic behind PGC's recovery is that as they pay down the debt the net profit is going to really improve.

They have 100mill debt and that costs them approx 8million in interest expense.

So say they pay off $10million in debt each year then presumably reduce the interest expense will drop by $800k as well.

So net profit improves by $800k per year.whch isnt massive but current net profit is $8million so an extra $800k onto the net profit is 10% increase in net profit with out having to create any more revenue.

For me thats a good dynamic. As presumably the share should track the increasing net profit. A 10% return year on year plus a say 3-4% dividend is a really nice return