Product margin is some BS metric they use that is basically just gross profit before returns and allowances (as though these aren't normal CODBs). Delivered margin is gross profit.
Obviously when the market was valuing this business on a revenue multiple it made sense to use maximise non-IFRS revenue by using things like "gross revenue" (ie accounting revenue + product margin).
Pick The Bottom, page-160
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| Open | High | Low | Value | Volume |
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