Ann: Australian Microcaps Investor Presentation, page-23

Not competitors, some other group of stakeholders


I'd believe it if the margin was high, as that's usually the case why company's might be shy to reveal it. In fact you'll find the companies that do this, usually give vague commentary about how the margin is very healthy or attractive, to get the point across to investors.

The only other time I've seen margins hidden from investors is when it's a particular deal for a contract, which can compromise further deal negotiations for either party. That also doesn't apply here.