nice rare view mirror analysis.
Unfortunately unless the underlying company is non-cyclical, looking at the rear view mirror to extrapolate future results rarely works for cyclical companies.
Patience... patience...
Lets see how the annual results go with the trading update for 1QFY25.
Debt is up because of the acquisition, and leasehold rental commitments are a killer if sales continue to go backwards. Those rental commitments will come with a nice 5% rental increase YOY
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