Ann: COVID-19 Trading Update 97 - Week Ended 21 January 2022, page-2

This co has been a massive disappointment the more they earn the more they lose money. Yeah someone will say it’s a growth co but they are an Australian business for over 20 years and yet still can’t turn a profit? Hate to think if they go overseas how much longer till they turn a profit. And these numbers may look good but remember they have to pay Bendigo for the acquisition costs so really not really that healthy. Tyro needs to right size the business to generate a profit now it is not a high growth company. Margins will be squeezed as interest rates rise, consumer discretionary spending declines. Tyro is not at coles or Woolworths or Bunnings it’s at discretionary service companies who are struggling. New competitors like square are coming in with cheaper offerings. This is heading under $2.