momentum building, page-5

fron the positive outlook there is no debt.......that's a big plus



Bank debt has been reduced by $6.4 million to less than $0.5 million and net cash surp lus is $3.3 million at the end of December 2012. The net cash surplus is made up of $1 million in cash and cash equivalents, and $2.3
million of cash held in trust. Further debt reductions were made in January 2013 reducing borrowings to zero.


Despite the poor result cash flow from operations was positive $1.9 million for the first half, aided by the sale of rental assets.