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....and that first big profit was from revalued assets as a...

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    ....and that first big profit was from revalued assets as a result of 'gain on bargain purchase' that was subsequently written down more than that as an asset impairment the following year!

    Regards.............

    p.s. sorry, couldn't help myself! The preliminaries that are expected on 31/8/12 will make for interesting reading.
 
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