COGS was too high FY22 at AU$550m.
Revenue is still decent despite a decent fall in FY23 to about AU$440m
FY24 will have approx $60m costs taken out but needs to go deeper and get it to $400m COGS
I am quietly confident FY24 will be better than FY23 on the proviso revenue stabilises and records revenue in the $450-500m range with $400-450m COGS.
Guidance will tell us how the company is tracking from this trough.
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COGS was too high FY22 at AU$550m. Revenue is still decent...
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