Tax is $3.12m off profit, but not off cashflow - they paid only...

Tax is $3.12m off profit, but not off cashflow - they paid only $67k in income tax off cashflow. I was just elaborating why cashflow was so high relative to NPAT. i.e. tax, receivables, capex make up bulk of differences.

Re outlook, they use the stock phrase of this reporting season - "well-positioned" (or well-placed). Some quotes which I think make it clear:

The Group has not forecast earnings for the FY11 year and results will depend in large part on an improvement in demand for our products in the markets we serve. (from Bruce Higgins)

and

Our markets remain competitive and world events indicate continued subdued activity in export markets. While domestic economic indicators suggest a return to growth, uncertainty and challenges remain and stronger outcomes cannot be assumed across all markets and regions in
the short term.
...

The Group has not forecast earnings for this financial year, however we are confident that the Group is well placed for the future. (from Brad Dowe)