FY12 underlying profit of $1.47M - i.e. statutory net profit...

FY12 underlying profit of $1.47M - i.e. statutory net profit $596K + loss from discontinuing business $875K. So a drop from FY 11 underlying profit was $2.29M or statutory net profit $1.25M.

After a long look at this company - I'm still undecided as to whether this might be a proposition. And let's face it - slimming products are not exactly top end pharma.

In the meantime perhaps contract manufacturing seems to be staring PBP in the face.

Until the ADP outcome is tested - given the PBP's large debt and low liquidity - for now its hard to take it seriously.

Ambiguous comments in the report like "[3] clinical trials in progress together with 16 pharmaceutical products in various stages of development" [in relation to ADP products] don’t help.

Oh well at least the CEO/MD has taken a pay cut of $107,000 PA ($665K to $558K)!