Ann: FY24 Half Year Results Presentation, page-30

On the last couple of calls IRI CEO Joth Ruthven has said that the company has scaled back significantly its R & D and now focus's its R & D spend when there is mainly a specific customer need. I actually took that to be that maybe customers make some sort of contribution to that particular R&D cost.

The other issue that John Ruthven seems to have sorted out is the performance of the US Sales Team and we can see that in renewals and new Collaborate customers. The US is the biggest businesss unit and John has spent a fair amount of time in the US getting the Sales Team right.

The full year financials will be fascinating and I would encourage any shareholders to listen into John's earnings call. He is always prepared to answer questions and hopefully whoever is listening in can appreciate the challenges IRI presents and how he has gone about meeting those challenges.

Cheers......D