stephcn there are 2 non cash items in the FY15 P+L valued at $62m. There is also depreciation and amortisation of $28m. So if you add back these non cash items ($90m) the company is well in the money in FY15. the same goes for this year with npat circa $22m if you discard the engine claim. what the P+L statement does show though is that they are extremely fat in the admin expenses and hopefully this will be taken to with a torch.
Takeover potential, page-100
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