I think you are right on the money, PeteFrom update 20 December...

I think you are right on the money, Pete

From update 20 December 2018

"The net outcome from all the above will see approximately $11 million shift from first-half Profit Before Tax (PBT) to second-half PBT, most of which will settle in January 2019."

With 406 million shares issued, the expected $11 million pushed forward to the final half would cover a 3c final dividend, providing a small profit of a couple of million is added for the final six months. However, AVJ does not appear to be too flush on the cash side, although high on the land holdings in this housing downturn.

In a recent presentation, I was heartened by the following point listed with others under Focus:

"Monitor inventory levels against market conditions"

Hopefully, the Jennings team will scale down their land holdings.

With conservative management, I think a 2c final dividend would be appropriate.

Cantankerous James