profit upgrade notice, page-7

G'day Munch,

So far they have managed good growth with pretty tight control and also have some pretty impressive individuals hidden in the top ten shareholder list - the likes of Tony Berg and the chairman of Patrick's for starters. They don't overpay for for acquisitions, usually securing the acquired management on contracts with buyout payments contingent on ongoing results.

You are right to bring the subject up though as with all service companies the core assets go up and down in the lift. This is normally dealt with by the right type of contract with non compete separation clauses.

A share price of $3.50 over the next six months wouldn't be a surprise.