Ann: Q2 FY11 CXN Shareholders Report , page-8

The bottom graph (Qtrly Revenue v Operating EDITDA FY 10-11) tell the story. Both revenue and Operating EDITDA took a significant downturn this quarter. Alongside the graph, CXN say that their plan to cull non-profitable contracts in order build margin growth will in the short term impact on turnover but in the long term improve profitability and margin improvements. I hope that this is so and not spin from the company.