Ann: Veris 1H FY19 Results Presentation, page-30

If from the half yearly the separate EBITDAs are surveying $2.5 mil, Elton $1.4 mil and Aqura $1.1 mil, I wonder why the group EBITDA is only $3.2 mil unless Elton contributed to surveying??? I like it that the Directors have such large holdings. That company I mentioned previously has now got it's gross margin to 24% and guess what...they again posted a net loss..this time 3/4 mil and that after a roughly 40% increase in revenue. It leads one to believe if a company makes money they just increase spending which is a great fear especially if carrying debt. So let's assume we increase surveying margin from 7% to the desired 17% for this half...(and we are almost half way through it so an update in April could be beneficial to us all), then that's an extra 10% on what is likely to be about $50 mil revenue, so $5 million extra profit. If we netted 200,000K last half, then there is no reason why we can't net $5.2 million this half. That's what I think we should aim for. That way we achieve 3 things 1. A decent profit, 2. Can maintain the dividend, 3. There will be some goodwill value on the large surveying contracts so that the asset value of the company will increase, supporting a higher market cap. Adding to the case for a significantly higher net profit, are the much publicised synergies from integration of office systems, rationalisation of office spaces and gains from being a one stop shop. There's no excuse for not delivering.