Ann: Half Yearly Report and Accounts , page-2

Just having a deeper look into the half yearly result.

The WA business put in a good effort with a profit of $4.4m, $300k higher than the previous result.

But two interesting aspects are Marc and PSI.
Marc's profit $114k against last years of $1.75m. Management have re-iterated that they can see a turnaround with capex's coming through.

PSI's losses continue (817k) against ($654k).

Interesting Note from the half yearly:

Note 10. Intangible Assets:
"On 1 Oct 2009 the Group acquired an additional 2.88% of interest in PSI for $1,115,678 taking the company's total shareholding to 72.48%".

The board and management must have massive faith in PSI, it drained $817k for 6 months and they just topped up with another 2.88%.

Let's hope that one day soon we see the benefits.

P