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Ann: Market Update and FY24 trading conditions, page-15

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  1. 274 Posts.
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    I read it a slightly differently - costs have not exploded but they are commiting ot spend significant money on cyber security and risk management in the future ... I am hoping this is pro-active and not re-active ... perhaps this is masking some of cost of addressing the response to the ASIC actions?

    -- Begin quote --
    The Group expects EBITDA to be broadly consistent with FY23, having committed to invest in additional one-off cyber security and risk management resources.
    ...EBITDA expected to remain consistent with FY23, the Group anticipates a full-year normalised NPAT of $24m-$30m
    -- End Quote --

    Given FY23 NPAT was $41.9m, this indicates that these cyber security and risk management expenses will be $12m-$17m ... I would love to hav we more detail around this as it is a very significant expense, especially the "risk management" expenses


 
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