Ann: Change in substantial holding, page-51

Results are broadly in line with expectations. The loss was driven by poor performance in approx. August 2017 during the ramp-up of Deflector. The 2nd half of FY17 was profitable and the company appears on track to meet expectations in FY18, so nothing significant to worry about in my eyes. I would assume that most analysts were already factoring in a FY17 loss to their projections, this will transition to a profit in FY18 and beyond.