Ann: Preliminary Final Report, page-11

These results are terrible. 168k profit from 37m revenue is hideous no matter which way you slice it. No serious and educated investor or analyst who uses their brain could honestly think otherwise after going through the numbers provided. Those who invest with their heart or are easily led may think otherwise. Hiding behind low-level R&D expenditure and no more R&D tax concession is weak and unprofessional. Don't make excuses.

I've said it before - the drone business is being stripped to support the composite, armour and now space ambitions which should be funded from the CR activities. The market must not understand that this 100m acquisition from Defense for xtek drones and related support will end in the not too distant future (12 months?) and then this business will be re-tendered. There is much more real competition out there now, both newer and more capable platforms and better equipped primes and service providers. Future business is far from guaranteed. Without sustaining this massive revenue the overheads will kill the business. Failing to achieve a normal profit from this revenue will see Defense label xtek as risky and mismanaged. Actually, the drone boys have worked hard to get to where they are, management has screwed them royally.

Splitting the business would have allowed for more profit from the drone side in a leaner structure. This WAS a great opportunity to build an empire.

This stock will never return a dividend and seems structured solely to full the pockets of management - all the way to the chairman himself.

I suspect this stock will be back to the mid 40c in a few weeks. #dogstock I suspect the GM will depart before SHTF - he has done very well for himself indeed. hype, hype, hype

Also, its obvious management cannot help but post here to boost their stock and explain their actions from the 3rd person. Re-read above if you disagree.

DYOR