Ann: ZEN FY19 Investor Presentation, page-2

I only see one thing in here that is 'market sensitive'. We can see the BOO EBITDA margin (page 10) for this just finished half year. It did not fall (well make a bit of a percent). It remains just under 70%. This tells me the Tanami project was not a cut price war with PEA. It was won and constructed on a fair margin. This is good news for future projects.

If anyone see anything 'new', sensitive in the presentation, let us holders know. But it only seems to be a simple recap of what we already knew.

Interesting, is that this half year looks identical to the first half year of 2018. So it looks like (to the untrained eye) the company crashed and came back, but has not grown at all for 2 years. But ZEN have simply converted their MOM/EPC (reveune and profit) with BOO (revenue and profit). So in first half 2018 Zenith was a cyclical engineering company. But now, Zenith, is a utility company.