Except that in a business like this, the words "free cash flow" need to be said with tongue firmly in cheek or fingers crossed, or something.
If "free" means that which can be returned to shareholders without compromising business operations, then they are about as "free" as Ivan Milat.
And the only earnings that matter are those that are free.
But preaching to the converted...
Ann: Half Year Report - ASX Release, page-9
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