2013 annual report had 14% of revenue from developers - whatever that means.
If you guys have a valid point about declining revenues in the Australian business I really would like to hear it. As far as I can tell though there is nowhere near 40% of Australian revenues coming from residential property development. The 2012 Annual Review gave an operational breakdown of each of the businesses. It's quite a big job to go through all the aquisitions but I am pretty confident that you guys are full of it on this one.
Sell until $0.43?, page-44
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