I am pretty unhappy about it as well. However if you look at the...

I am pretty unhappy about it as well. However if you look at the current figures of how glass is going, it seems to have dropped back from the improvement it was showing in 2019. Of course with an insider deal who knows what those figures actually mean.

I don’t believe the 6m ebitda includes Glass anyway. It’s operating in Queensland and the 6million appears to be what they are expecting to get from the Victorian region. If corporate costs reduce to something like 2 to 3 million, because they are no longer running offices in multiple regions and they are capable of running a basic services business (if!), then they could actually show a decent npat. I guess I get a similar EBITDA of 3 million, after corporate costs, but corporate costs could (should) reduce to more like 2 million or less. However they always seem to have very bloated corporate costs.

this year could still be messy though, with all the sales, there could be divestment costs/impairments so goodness knows what the bottom line will look like. Any which way, I think it is worth more than 4.5c less TNT.

After the record date should give an indication of what people think it’s actually worth. February figures will provide some more enlightenment.