TRS, H1 guidance and dividends, page-2

Good insight pCap. On the other hand I reckon they wont do below $16mil npat. They sound pretty confident at AGM aboubt 16-17mil range leading up to festive/xmas period. In 2016 they overexceeded the budget during xmas and sounded pretty confident about xmas 2017 offer.

I believe they might do 17.5 this half.
You made good points re h2. I also think they might do profit in h2 especially after all the cost saving initiatives are now in place. So 17.5 h1 + 2.5 h2 = 20mil fy. My guesstimate.

But divvy in h1 seems very realistic. Not only they did not pay final one as you said but also capex this fy is to be minimal. These both factors should give us that 20mil net cash position you wrote about. I have the same calcs exciting times ahead