I agree entirely with this take.
Redundancies in this context shouldn't automatically be seen as a red flag.
When a company has made several acquisitions over a short period it's inevitable that overlaps in functions and inefficiencies will emerge.
Taking proactive steps to streamline operations isn’t just cost-cutting; it’s about ensuring the business is fit for sustainable growth.
What stands out to me is that this appears to be a sign of disciplined capital management.
Optimising the operating model post-acquisition is key to realising synergies and improving margins.
If management can run leaner while continuing to grow, that’s a strong signal of long-term value creation.
Looking forward to the upcoming 4C to see how this translates into improved cost structure and cashflow.
Hopefully we get clear disclosure that reinforces this direction.
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