Hi mate, I could only go by volume of jobs they stated vs...

Hi mate, I could only go by volume of jobs they stated vs revenue so unless they release repairs done by division it would only be a guess. The heavy division would skew things a lot as truck repairs would be very high. No idea on what they could be.

I think the issue with Capital Smart is the fixed price model they were on probably didn't have a pricing mechanism in it to account higher inputs that have occurred post covid. From the announcement previously it looks like that model has been adjusted but it wouldn't not be generous.

I think that was also the case with the IAG model as well but that had a pretty good system to capture with over 8k and out of scope repairs plus now they can hide all that as they own their shops so its a case of robbing Peter to pay Paul.

The interest bill due to the high price paid for Capital Smart and RBA rises have made it harder as the interest bill is bvery large so hopefully the cash raising lowers that pain and gves breating space to continue to right size the business.

Going back to the smart model of repairs this must be reducing across the industry as a lot of people have high excess and high premium so I would expect some people will go private for a claim rather than lodge and be hit with a high excess and increased premium next period.