profit up 655% after tax super result, page-3

$29m cashflow positive from operations compared to last year $30m with higher revenues last year.... I think is a great result and shows management has been responsive and efficient in the difficult climate.

The fact the company has net current assets of $10M and only $2M in cash and net current liabilities of $17M makes it pretty clear this raising was absolutely imperative to strengthen the companys position.

the debt paid down during the year it mentions in the report was largely from the private placement of $14m at end of 2008.