microequities conference, page-4

Thank you very much for that. Good to know they are sticking with the forecast - given the weak price and market, even that should count for something!

My understanding is that they still have some free capacity, so they probably still have some economies of scale with single digit revenue growth. Also, just sticking to the current payout ratio and using the remainder to reduce debt (or perhaps eventually invest elsewhere) would also increase NPAT at a faster rate than revenue.