Ann: Thinkchildcare - UPDATE, page-10

I'm positive that they'll deliver on their previous confirmation(s) of guidance

In 2016, the existing TNK centres are starting the year at a higher level of occupancy - and in this business once that 'break-even' level of occupancy/income has been achieved, the rest largely falls through to the bottom lines.

And the upside leverage from the new acquisitions will flow through to the bottom line during 2016. As I understand it, TNK management have been managing some/most of the acquisitions under management agreements - that means the potential acquisitions already utilise the same systems/practices as TNK. So seamless integration and presumably there will be few if any surprises.

I like the business model that TNK management have put in place.