Ann: Investor Presentation - Full Year Results, page-6

I thought the results were pretty reasonable in light of the wider context. That is, regulatory framework driving a need for the business to adjust its focus and operations. So while some of the headline results were down, the encouraging growth in the MACC and auto sectors seems palatable. What's more, international operations seem to have been tightened.

Given we've seen the share price capitulate from 50c this time last year to half that level, the modest rebound from there over the last few weeks I think is pretty representative of a company that is now a work in progress.