Ann: Isentia Half Year Financial Report, page-5

With the working capital movements last half, this was always going to happen. not sure why they present net debt delta on a 12 month basis only. Sure present 12 and 6 months if you want, but do they think we’re all stupid and not going to notice?

not sure why they paid 2.2mil tax given npat last year was -34mil...?

happy with the ebitda, would be interested in how PPE and intangible spend is going to track in the second half.

as long as they get debt down 10mil in a 12 month basis at the end of the year, then net debt to ebitda drops below 1.