soild result considering environment., page-2

Most important part of the report for me was the Net cash inflow from operating activities figure. Improved significantly in 2012 and I think management expect this to continue.

I think going forward they will look to buyback a further 10-15m shares. Once this is done (which could be done over the coming 9-12 months if they can get their hands on that many shares) as a result of the trend in the Net cash inflow from operating activities they could realistically pay out a 4-5 cent divy each year (as long as they don't try to expand their new products/divisions too aggressively). At the present share price with a 4 cent fully franked divy that would represent a max grossed up divy of around 16%. With all the money going into SMSFs at present I cant see how this wouldn't be an attractive investment for SMSFs and as a result I believe we will see significant share price appreciation over the coming couple of years.

I would be interested in people comments in relation to this.