Moelis update, page-19

Hi splitty - I could be wrong - I am standing on my head in a blizzard with an iPhone trying to do the calcs.

This is how I see it.

From memory we should have about 19 million in (minimum) next half (1h 2017).
78% of 24.5 mil.

Their estimate is 41.7 mil. For fy17.

So 41.7 less 19 mil. Means that 2 H17 est. is 22.7 mil.

When we consider that we are ahead of our 18.5 mil (24.5 aussie) already - as it had to be - and not a squeak about carpets - then they are practically estimating 2H 17 lower than 1H 17.

I find that impossible.

Pinto