Pellet Price, page-459

The write off I expect related to non-producing assets and separate cash generating units. The circumstances that led to the write off for those cgu's would have to have reversed to see a write off put back. Not saying it won't happen but the fact profits are made from Savage would be irrelevant if the assets written of were other cash generating units from an impairment perspective. Personally I'd rather see a franked dividend and if not a buy back (or both). Funding for South Downs is a separate wuestion and in the event of go ahead I'd rather see a spin off and separate test of the market for funding. Don't want it commingled with a mature cash generating project.