Ann: SSG - Appendix 4E & Consolidated Financial Report, page-104

That’s a solid effort by SSG in the first 4 months - at a time when two Banks have reported customer spending restraint. It’s on a par with retail champions like NCK & SUL. It’s bang on with my FY24 forecasts and whilst we will have eps and dividend erosion this year, my lower grossed up dividend, BASED UPON MY COST, will be over three times what I am earning with my Macquarie interest bearing account. All that from a very, very safe company with cash at bank, solid management and a proven business model with a moat around 50% of its income and 60% of its EBIT. Hard to beat, easy to like.