News: PNC Pioneer Credit Closes A$272.5M Senior Finance Facility, page-11

What word did he keep? You expected him to announce a refinance and not deliver?! Terms were meant to be signed pre-christmas. $18m profit is probably includes deferred tax asset recognition, which is a once off adjustment. Been going on about years of profit since FY22, only managed 200k accumulatively since then. As I previously mentioned, it will be interesting to see operational performance rather than these one-offs, seems like profitability is entirely funding cost related at the moment based on the 200k profits managed with no extenuating circumstances