Not a particularly promising half yearly. There is a turn around in profits from -$2.169M to $2.193M. However, that turnaround is completely covered by the Createc tax de recognition and impairments of $2.463M of the previous half year (ie, non cash costs - I believe (though need to check) that the tax gain was booked, but not received last year).
Of course, the re-orginisation charges of $0.783M is a one-off as well, leaving the last half yearly $0.513M (underlying) in the black. Slim margins indeed.
I note revenue is down 1% in spite of product initiatives. It is hoped that those initiatives really bear fruit in the next half. Pleasingly, debt, and the associated finance costs, continues to decline.
Given all this, it is understandable an interim divvy has not been declared.
HNG Price at posting:
35.0¢ Sentiment: Hold Disclosure: Held
