This year cash conversion is high thanks to working capital movement even after adjusting for restricted cash line move. that may swing back this FY.
all in all looking into FY19, i expect to see a 70% div pay out rather than them contemplating acquisitive move. You are right if they stick to that payout, we should not worry too much about cash burning a hole anywhere. =)
Ann: Appendix 4E and 30 June 2018 Annual Report to shareholders, page-12
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