I would like to see this company get to the stage where it...

I would like to see this company get to the stage where it doesn't have to differentiate between underlying NPAT and actual NPAT. There are plenty of companies out there where the two figures have very little in common and go on separately for years. I think that API has to show us now that it is not one of those companies and that the forecast "NPAT" is not just a figment of imagination that will have little to do with the actual bottom line result.

Certainly I was impressed by the confidence displayed in the AGM reports but the shareholder votes suggest that there are quite a few out there who are dubious about this board and management and its ability to match that confidence with actual results.

The API share price since the AGM suggests too that punters are not taking those AGM comments as gospel. On paper this stock looks very cheap but I am going to be doing some homework in coming months to see if I can determine whether or not it is just "on paper".

GPASAS