Ann: Veris 1H FY17 Results Presentation, page-13

In January OTOC was awarded a $4.8 mil construction contract at Pilbara. Remember this is the first stage of development so perhaps more will follow. Then we have the acquisitions. Many successful companies don't just run interstate branches as if they are extensions of the headquarters, but rather have a decentralisation policy yet remain true to the head office core values. Such a policy allows the current experts from the acquired companies to continue their successful operation (and contribution to VRS via performance targets) that should see a national decentralised integrated survey business operating successful. Australia's current growth and on going demand both domestic housing etc, and expanding commercial needs gives me no cause for alarm. They still turned over $55 mil with surveying contributing almost $30 mil. Given acquisition costs and all that goes with that such as due diligence, cost of acquisition, integration costs etc, and that surveying is expected to increase further in 2H 2017, it's my view the market has overreacted on the downside.