Ann: Preliminary Final Report and Full Year Statu, page-5

re: Ann: Preliminary Final Report and Full Ye... Hi Plough, a little removed these days though have been close enough to know some of the fundamentals which should see NAM earnings rise. I can't argue with your financial analysis and only time, weather and the global cotton price will dictate this.

She has been a great little earner over time, as there is limited interest in it we are able to pick some up cheap when the times look right. The interest comes when a nice divi comes out and pushes the price up.

The management have done a great job during some fairly poor seasonal conditions and appear to be running it on the oily rag, I guess the benefit of little debt helps a lot.

Gotta fly so catch you later. Mop.