Ann: Half Year 2025 Results Presentation, page-6

4 April 2023 - "On a full year basis, including the above synergy and restructuring cost savings thebusiness would expect to achieve underlying annualised EBITDA of approx. $7m whichincludes corporate overhead costs of circa $2m."
21 June 2023 "today announces that theBoard of Directors (the “Board”) has initiated a strategic review of its portfolio of businesses."
"FY23 UnderlyingEBITDA 1 is expectedto be in the range$4.8m to $5m"
"Preliminary guidancefor FY24, is forunderlying EBITDAof circa$7m"
23 August 2023 "FY24 underlying EBITDA is expected to be in the range of $6.5m to $7m."
31 October 2023 "COMMS GROUP | 13The Board commenced a strategic review in June 2023 toconsider all options available to the Board, including a potentialsale of one or more of Comms Group’s businesses, in order tomaximise shareholder value. We are part way through this review. We have received interestin a number of our business units and the assessment as towhether any business units will be sold or retained is stillunderway."
"FY24 UnderlyingEBITDA target$6.5mto $7m"
21 February 2024 "Underlying EBITDA expected to be $6.5m to $7.0m."
28 May 2024 "underlying EBITDA expected to be in the range of $6.5m to $7.0m"
21 August 2024 "Underlying EBITDA $6.6m"
"FY25 UnderlyingEBITDA target$7.0m+"
26 November 2024 ""FY25 Underlying EBITDA target $7.0m+"

27 February 2025 "Underlying EBITDA of $2.4m for 1H25". "loss of $343,000"
"FY25 UnderlyingEBITDA target$5m to $6m"

So a move from $7m+ to "5 to 6" a 20/30% reduction - and will we make a profit? - the company never talks about NPAT (always "underlying EBITDA" - I recall Charlie Munger has a famous saying about EBITDA - Bull*** -

2022 Annual Report - Loss of $(704,444).
2023 Annual Report - Loss of $(697, 626). (page 24)
2024 Annual Report - Loss of $(94,871). (page 25)
2025 1H "loss of $343,000"

Hope that helps