Probably. I was creating a pro-forma balance sheet(s) as at 31-Dec-14 based on a few different scenarios to minimise the chance of any nasty surprises come results announcement time and thought I'd throw it out there to hotcopper for ideas.
Where did you see a capex budget of $15m?I did see management had stated minimal capex and lower than depreciation, but couldn't find a figure. $15m would be great as that would be 100% covered by forecast FY15 asset sales of $15m.
Re: accounting standards, I'm inclined to agree, but there is a significant level of management discretion with regards to revenue recognition in this type of business.
Ann: Market Update, page-6
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