Ann: Half Year Report and Accounts, page-2

The half year report is the most upbeat of theirs in years. They seem to have strong revenue growth planned for each of the acquisitions they've made over the last year.

Guam looks good; they're looking at getting into Sydney industrial land now; Japanese inbound customer traffic augurs well for their tourism and food business; advertising in Japan looks to have been a good purchase. There's reasonable leverage to decent news. They have taken on some debt, but it looks comfortably repayable in increments over the next few years, backed by (hopefully) steadily increasing cash flows. They expect revenue to double by 2017 - I'm sure this is not likely to include any wholesale proceeds from their Guam real estate.

I'm still very intrigued as to whom took out all the sellers at 0.1c last year on-market in what appears to be, for this company, a record stock market transaction. There must have been a reason. So I'm feeling much more comfortable in this stock than I have been for years.