revenue, page-7

James if you are correct in your assumption in regard to revenue reporting, and I must say your break down of the 71 apartments seems logical, than the break even I/we have been working on is not correct as this material factor and its different margin would have to be taken into account.

I think you may have something here. What is the margin on the provision of services and always remembering that you share this (as I understand it ) with the property developer or property owner? How much lower is that margin to our normal business?

I think its well spotted and certainly a good reason why I am expecting a loss but it seems they are hitting a break even turnover.

Its a very interesting analysis. Certainly I for one had not done or even assumed was needed to be done.