Ann: MOZ - Appendix 4C Market update, page-2

Good honest report by MOZ. Not blowing anything out of the water but given the Covid restraints of staff sickness and store shutdowns a good reasonable result. I like the fact that they make a point of excluding jobkeeper in their comparisons so that real conclusions can be drawn from their figures. I also like the position they hold in the fashion industry now that forecasts are indicating rising interest rates, rising inflation and increasing cost of living. Their low cost clothing stores surely must see some benefit from a move to more cautious spending by the buyers. They do need to lower their borrowing and improve their shareholder equity to gain more respect from intending investors though.