Ann: Veris 1H FY19 Results Presentation, page-5

While it isn't brilliant, it's not as bad as some were predicting and I still say the share is massively undervalued. Maintaining the dividend at 0.5c which is easily achievable makes the divi. worth 7.5% on the current share price. I like the 25% decrease in debt and both juneauquan and affiliated recognise the great cash flow and largely state and federal government guaranteed, so it will continue. Yes we showed a positive NPAT which is actually better than the slight negative one from the annual report when we were trading in the 20c range. Revenue should be stronger next half when the workload from contracts steps up. All in all I think we'll be back in the 20c range again in the later part of the year. The main thing required is a lift in the surveying margins. This slump in share price wouldn't have happened if they'd got that right because surveying EBITDA would have matched or bettered last years, NPAT would be higher, and the impairment re-assessment wouldn't have wiped millions off the goodwill.