Ann: COVID Trading Themes - Q1 FY22 Update, page-62

OK, I usually am reserved on these things but this is the biggest piece of crap announcement I have ever read. The purpose of announcements is to keep the market fully informed but this does the exact opposite. How can you report region specific growth in Q/Q sales and not report the aggregate number and not make it misleading? The way they have done it makes you suspicious that the aggregate number is crap and that the comparables are biased due to attractive Q1 FY21 comparables.

- they have never published Q1 FY21 regional sales, so the % increase has next to know value to an investor
- prior year comparable period would have been affected by COVID related lockdowns in Europe and the US, so you can explain ANZ being subdued for that reason (and not report the presumed % decline), but not attribute the bump in those other regions due to a poor Q1 FY21?

A sure sign to not trust management. Despite the excellent technology, this company is a hard pass for me until they improve their transparency and actually start delivering on some of their promises (anyone remember hernia/breast/drug elution?). I hope shareholders ask for better at the AGM.