Ann: Appendix 4C - quarterly, page-16

It's well worth having a look thru the last few quarters, while sales revenue is not yet back to the highs of Q317 the turn around in the last few quarters is clear.

Product manufacturing 54% of receipts
Advertising 23% of receipts
Staff 28% of receipts
Admin 24% of receipts
Total ~129%

Product manufacturing 69% of receipts
Advertising 23% of receipts
Staff 20.5% of receipts
Admin 25.5% of receipts
Total ~138%

Product manufacturing 75% of receipts
Advertising 14.5% of receipts
Staff 22% of receipts
Admin 24.5% of receipts
Total ~136%

Product manufacturing 75% of receipts
Advertising 18% of receipts
Staff 20% of receipts
Admin 15% of receipts
Total ~128%


Product manufacturing 58% of receipts
Advertising 5% of receipts
Staff 13% of receipts
Admin 13% of receipts
Total ~89%

It's poor form on managements behalf to offer no commentary to go with what is clearly a defining quarter however on assessment I'm quite comfortable with the story that the numbers tell.  YOW just put in it's best quarter since March 2016 when they were trading around 60c (pre quarterly announcement). The chart below demonstrates the declining cost of sales along with the increase in receipts which is turning this company around. management are doing exactly what they laid out in the most recent investor presentation https://hotcopper.com.au/threads/ann-investor-presentation.4439432/#.W7TdQ3szZhE