I'll answer myself! I listened to the investor call also. - RV...

I'll answer myself! I listened to the investor call also.

- RV Revenue down a little but costs down a little more. No solid results yet however. New products and dealer network rolling out and hopefully show results soon. The RV market is still strong and R&D spend + Asia manufacturing over the past 2 years should help them to recover lost ground. Hired Peter Naylor to run RV - experienced Winnebago Ops manager with good RV knowledge. No sense they are seriously considering pulling out of RV at all.

- MA division Rev down 10% for second HY due to mining (that surprised me I expected it go go sideways at least because of Education gains). Focus is all on Affordable accommodation and Education which are going well. Will keep a toe in the Mining sector but it's very competitive. My take is with Gateway Lifestyle onboard they should get MA rev growing again by HY. Occupancy 57% now for Searipple. They are selling mining 'SPQ's at depreciated book value as they come off hire.

- Combabula shutdown as planned (as was Dingo). Yes $3m arbitration payment made, but it's an ongoing case. All fairly small $ though. These camps are supposed to run just for a while.

- No sense of whether they will do an acquisition, he was playing down but who knows.

- Capex next year most likely to be lower than prev $10-$15m, so Operating Cashflow should be good by HY.

With price drop this morning I've topped up a bit.

Cheers,
pb

DYOR