Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-9

Perhaps we come from different schools of thought, but I don't see how making an EBITDA of $2.5m on a revenue of ~$40m can be described as making money. I know the 4C is just a snapshot of the financials at a given moment of time, but to still be seeing that the revenue number is almost exactly balanced by the sum of "staff costs" + "production manufacturing/operating" is disappointing. TNT have been talking about the supposed benefits of increasing their scale of operations to bring added efficiencies etc, yet here were are with income and expenses finely balanced. It just seems like the company is bumping along the bottom of profitabilty.

All IMHO, DYOR