TBE - realistically to me that is more FY16
I think FY16 will be a ripper of a year for MBE - full years benefit from the 2 recent acquisitions, plus synergy/integration benefits, plus with all the overseas markets (Singapore/ Switz / UK) having properly ramped up.
FY15 feels to me more like a year of investment and transition - with all its associated costs.
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H1F15 Report, page-45
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