solid as a rock, page-3

jamwolf
what did you make of it? i thought ok but drop in revenue somewhat severe, but they have done well to get 4.3m of normalised profit!

being outsiders, it is hard to know how things are shaping up now - they have two marginal divisions: Asia;and Commercial Oz and NZ. If those two are turning around, plus Industrial kicks a little, then your numbers might not be far off!

have to watch the share price for signs, especially leading in to the April update at the agm. I still, like you, think it is most likely to be a cheap stock.