Ann: FY22 Interim Results Announcement, page-44

Huge!

I’m looking for:
- Evans move to profit in this half supporting investment thesis for expansion in the UK market. This includes growing the brand and sales distribution reach in complementary geographies.
- Sale of extra stock invested at a good margin, vindicating additional inventory which has consumed cash and spooked the market. Proof strategy to use cash raised in capital raising and savings from lack of dividends is correct.
- Continued strong online growth and market share expansion in USA albeit as not as frenetic as the government stimulus driven growth of last year.
- Euroland/Germany sales and (like Evan’s) profitable growth this calendar year.
- Reopening trade stimulated sales growth across portfolio in general that offsets war and other global negatives
- Greater digital innovation.
- Progress on residual initiatives such as conservatives entry in ANZ.
- Improvement in ‘net profit’ measure.