Ann: Half Yearly Report and Accounts, page-11

To summarise what SRH's management has achieved:

They sold all of their non-performing assets. In doing so, they cut the company to the bare bones (fortunately they are good bones).

Then they did a huge rights issue. And management had deep enough pockets, not to mention confidence in their company, to contribute fully to that rights issue - around $400,000 of their own money from memory. Plus each of the directors has bought more shares through on-market purchases.

Now SRH's half yearly interest bill is down to just $200,000. That's peanuts when you've got an order book of over $3m and climbing rapidly, and given the hefty margins they're operating on.

Having stabilised the company, they've now put in place a coherent and carefully thought out growth strategy.

Just about the best small company buy on the ASX in my opinion.