Ann: DSK 1H FY24 Investor Presentation, page-16

You could be right.

Consider this though. LFL sales down 17%. Let's assume a 10% drop in total rev (I understand it could be less)

2H23 rev was 51m. Forecast in this case would be $46m
64% GP = ~$29.4m

Their operating expenses without D&A are exactly that. Add in replacement/maintenance at the D&A rate of $9.5m per half, and you get a PBT loss (excl interest from cash) of $9.5m. Your $8m PBT from the first half is wiped out.

I understand forecasts and cost bases can change. But you can only use the info available to you now.