Ann: 31 December 2012 Appendix 4D and Interim Fin, page-4

re: Ann: 31 December 2012 Appendix 4D and Int... Good and Bad. Highlights and sour points. It's a multi-faceted business. We're trading at a 50% discount to net assets, with that in mind read the report.

"While a reduction from the previous corresponding period, the result includes pre-tax losses recorded on civil projects in the eastern states of Australia totalling $6.102M. Excluding these losses, the result for the segment for the first half of the financial year was $6.305M. After adjusting for $1.160M in unallocated corporate overheads, this reflects a pre-tax return on equity of 14.4%..."

I do hope I never have to read something like this EVER AGAIN. If we do this to the numbers, and take this loss out and then make this treatment and not incorporate this set of figures... THEN guess what guys? our ROE% was 14.4% and as we said at the AGM, we were targeting 15%... so cheerio lads, almost there.

They really must think the owners of the business are morons??? There's a reason we're owners and they're our worker ants.