Ann: Trading Update , page-3

Some delays in significant contracts appear to have been behind the drop in SP over past 2 months. Now we have an update explaining things. Management say the RHC contract will eventuate early CY2014 and clearly it will make a substantial benefit to bottom line. After various issues all 4 rigs now back in wk also helps. TTN now say 8.0m EBIT for 1HFY14 and still expecting about $22m for fy. That means 2H will be 75% bigger than 1H! That's a huge ask and wonder if they can do it? I still keep plenty confidence in TTN but reduced my estimated eps to 29c. Made first purchase at $2.26.

Not enough firms issue updates when SP falls significantly. They stay underground hoping nobody will notice. So good to see an update for TTN shareholders and keep everyone in the loop. I support quarterly reporting similar to what mining stks are required to provide. Some industrials do this anyway.