Ann: 2023 AGM CEO's Presentation, page-4

Well, no less than the Governor of the Reserve Bank has cited trips to dentists as a contributor to inflation so presumably that's precisely the sort of behaviour that the RBA is trying to curb with further interest rate increases. Along with a level of increased unemployment we seem to need an increase in untreated dental cavities as well (in the young and the poor of course).

Presumably inflation has nothing at all to do with cashed up boomers spending on travel and entertainment like there's no tomorrow assisted by the tailwinds of 5.5% interest on their spare cash. Nor corporate profiteering in areas of limited competition (Groceries, Domestic Airfares etc).

As for SDI, the sales drop outside amalgam is modest and presumably cycling some demand catch up. Margin improvement may simply be a factor of sales mix (amalgam tenders were lower margin etc.). Costs are the worry for me.