Valuation reports tend to be very conservative. Unfortunately...

Valuation reports tend to be very conservative. Unfortunately shareholders don't get to see the actual reports showing the method used by the Valuer for the Horne St & King St properties.

I have no idea how a Valuer would value the Bar 20 business which is a real cash cow.

Anyway, profit sounds much better than loss.

With apologies to Gordon Gekko [Wall Street 1987]

The point is, ladies and gentleman, that profit is good.
Profit is right. Profit works.
Profit clarifies, cuts through, and captures the essence of the evolutionary spirit.
Profit has marked the upward surge of mankind.
And profit, you mark my words, will not only save PPN, but that other malfunctioning corporation called Australia. Thank you very much.