I went to Austoft's general meeting last week. 
 
For anyone who's interested they're predicting a softer year, but
are maintaining dividends at 9.5 cents franked.
 
Dividend cover is 2 X for the second year.
 
They were predicting a 10% - 15% downturn last year, but increased
profits by 4%.  This was the second year after listing and they came
in 60% above prospectus, after being 85% above the year before.
 
The company seems to be doing all the right sort of stuff - lots of
R & D, redesigned factory flow, new products, export oriented etc -
but are affected by the higher dollar, falling sugar price, and a
competitor attempting to buy market share.
 
LM.

--- Maximus/2 3.00