What i was trying to do with my previous numbers, was to take...

What i was trying to do with my previous numbers, was to take increases of inventory and livestock into consideration when looking at earnings.
The reason being is that there is an 18m lifecycle, so just looking at earnings for the last 6 or 12 months isnt the full picture, there is a delay in costs becoming earnings, it should be an fairly steady number, not skewed do to the H1/H2 earnings split.
I thought (trying to) look at cashflow was the way to go, but now looking from the other end.
Below i track changes in total equity, which should have all the magic already done.
I subtract issued capital, because its not money that's been earned by the business (and issues to employee should be deduced as operational expense), and add the Dividend because its money paid from earnings to us.
The number is at least no lumpy, it has dropped in the last 2 halves, i guess in part because not all the growth capex can come back as PP&E.

I am thinking as a next step i could subtract Deprecation and Amortization, and add Maintenance Capex, because DA is backwards looking, and Maintenance capex is forward looking.

		1H21	2H20	1H20	2H19	1H19	2H18	1H18	2H17	1H17
1	Shares in Issue	211,334,135	209,118,582	207,374,785	178,450,013	177,263,858	174,458,730	173,275,247	169,889,399	150,281,739
2	Issued Capital	426,193	418,635	412,814	288,814	283,060	271,082	266,775	253,905	167,120
3	Total Equity	805,282	789,049	773,457	633,858	617,143	586,003	566,359	537,894	433,400
4
5	Change in (Equity – Issued Capital)	8,675	9,771	15,599	10,961	19,162	15,337	15,595	17,709	266,280
6	Dividend paid (for prior period)	14,793	18,664	18,836	15,953	18,287	15,953	14,105	12,896	12,590
7	Change in Equity + Dividend	23,468	28,435	34,435	26,914	37,449	31,290	29,700	30,605	278,870
8		0.111	0.136	0.166	0.151	0.211	0.179	0.171	0.180	1.856