Ann: 1H FY22 Results Presentation, page-69

given we are in the world of napkin analysis, at least until the big boys produce their DCF's (I wait with bated breath)
I thought I would give my own take on things ...

in the last six months of 2021, PNV decided to ramp up sales staff significantly, expecting and given past performance, that sales would also increase rapidly
instead omicron hit in November / December
nevertheless, because of the increased sales force, sales did increase, just not by as much as they thought, but still a good result (especially if you think back to what happened when Delta hit a year ago - sales went backwards in January)

however because of the missing sales due to omicron (and therefore the missing cash) DW pulled a rabbit out of the hat and sold the building at a profit to keep the books in good order
if nothing else. this should tell all and sundry that DW is not going to do a cap raise ...

so between now and the end of the financial year sales need to increase more in keeping with PNV's expectations of what their sales force can do
and given how how cautious DW has been over the years in keeping the companies finances stable I would suggest that that is a given

or maybe it is all just apophenia