Ann: DSK 1H FY24 Investor Presentation, page-56

It's interesting to read Brazin's 2006 AGM commentary which gives us good insight into the business cycle and performance today.

''In December 2004 we acquired dusk, giving us a significant presence in the home
giftware market. The dusk performance last year was very disappointing.
It is a high margin business, so is very volume sensitive and profit declined accordingly.
dusk has been, and continues to be impacted by the tightening in consumer discretionary expenditure.''

My view is that this business is probably a bit more cyclical than originally anticipated.
With that being said, at this current valuation, when consumer sentiment improves, this has the ability to bounce back quickly.