The capital raising must have been the prime consideration of who ever wrote the flowery commentary;
Surplus increase 40%
EPS up 92%
Revenue up 16%
Dividend,,Directors' confidence in the strategic direction of the company.
Strong operating cash inflow $4mil.Significant turnaround..
All great troop rallying words...
Yet as Under Surveillance points out it is on a terrible performance last year.
NTA has reduced from 71.7 cents ps to 30.8 cents ps.
Intangibles assets [? ] have increased from $186,000 to $12,131,000. !!!! A lot of very valuable intangibles???
Goodwill has nearly doubled going from $10,813,000 to $20,081,000.
Take Intangibles and Goodwill off the equity of $48,078,000 and the reasons for the capital raising become very clear.