Ann: 31 December Trading Update, page-12

outwitted in the sell off this morning, but after speaking to management this afternoon I will be quite happy to hold for another 6 months ....

as I mentioned before the fall in the AUD for the full FY (currently at 17% for 8 months) should make an enormous difference to the sales in AUD ....... h2 profits also average 1.37% more than h1.......... upgraded management in both US and Europe has added to some costs but is beginning to show some results - so I am told.... Brazil likely to begin production by the end of financial year approx. - machines etc. all in place ready for final government approvals and the switch to be turned on.....

due to the substantial mark ups on their products a slight increase in sales can make a large difference to profits once the overheads are covered - again so I am told ..... eg 5% increase in sales in AUD makes for a 32% increase in NPBT for h1.....