There’s no doubt that the market likes to hear of record profits...

There’s no doubt that the market likes to hear of record profits being set during hard times. The announcement however doesn’t mention performance on an EPS basis (which is impacted by dilutionary share issues from FY09 acquisitions and the recent SPP). To get the full picture, shareholders also need to know a bit more on the net amount of additional debt incurred during FY09, the current debtor aging profile and management views on goodwill impairment.