Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-41

haha thanks for your thoughts mate, much appreciated. i sold a while ago and havent been checking in here, shame youve copped abuse, i think you provide balanced views here.

i bought back in earlier in the week to trade the quaterly. think i will hold for a bit longer now. i was impressed with the net increase in positive cash flow compared to fy21 q4. net increase of around 5% in free cash whilst adding an additional 50 odd staff to the team. clear to see margins are increasing which really has been one of the main issues for tnt and whether or not they could actually increase profitability. they have also scaled quite well surpassing my expectations of 150mil turnover.

i dont think the fact that the next 2 quarterlies would be alot lower than this will be an issue as tnt has adjusted over the past 12 months to provide that guidance and have now proven that they will have seasonal quarterlies. provided they continue to grow from the previous same quarter and can demonstrate continued organic growth outside acquisitions i think a lot of the market questions of tnt have been answered pretty well with this quarterly and fy.

as i said yesterday itll take some work to clear through 13c, and if global markets turn ill most likely be out but happy to ride this given the above mentioned improvements.

if there could be some guidance on the innovation and academy arms that would be good