Just read the results in detail and they look good to me:- All...

Just read the results in detail and they look good to me:

- All business units producing a profit for 2004
- Revenue from ordinary activities up by 53%
- Net Tangible Assets per share of 37c against a share price of 28 ( take over target ?? )
- $5.9 million cash at bank as at June 30 with a further $5.8 million coming in from the securitisation of part of FEA's loan book since the year end = $ 11.7 million in cash.
- A further $ 5 million due to be recognised in 2004 from FEA's public woodlot offering.

Looks like its onwards and upwards for FEA from here, particularly with the Net Tangible Asset backing of 37c surely this is a 40c plus stock ??

Dazzler