All good growth in revenue etc, unfortunately Net is down! Ok excuse is margin. Margin in this business is peoples cost. Looking in the accounts found that the major cost increase in absolute is salaries $21.9 million, or 18% on prior year. Or 8% of total revenue!
But no real comment! some round about answer and some spin. The management are unable to say the cost of operations has gone up! or needed more expensive staff for migration to the cloud . A bit of worry.
Was this point bought up in the live presentation.
Ann: FY22 Results Presentation, page-8
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