Spot on 'WHY'. I'll also be seeking a few answers, and will post...

Spot on 'WHY'. I'll also be seeking a few answers, and will post them here when to hand.

Flat result as expected, NPAT of about $2m once you take out the $1.1m revaluation of the Red Hill investment and the non-recurring expense of $0.34m. With a rise in shares on issue, and equity up, this means a fall in EPS and ROE.

What annoys me most is the contrived way AKG included the revaluation gain as part of revenue to boast an 11% rise in revenue and over 50% gain in Net Profit. You can bet your life that this will be sneakily stripped out in 12 months time so that when used as a comparison at that point - it will be conveniently lower.

Yet there was a LOSS on revaluation of assets of $$0.7m which was NOT included in the Net Profit, only in Comprehensive Income. This seems inconsistent to me and I will try to find out why.

Cashflow also weak and unexplained.

Now I understand their urgency to make acquisitions, to get back into growth mode!