A couple of points 1. Tax Deferred Assets is 10m. Where is that...

A couple of points

1. Tax Deferred Assets is 10m. Where is that captured?

2. AUD has gone up so Gross Margin can lift..Where is that,?

3. Other Expenses are not rising. They took 2m out of cost base. Where is that ?

5. Buy rate on labour is wrong. You are assuming a linear relationship which is not correct. Even if your sales are correct then conpare to 1HFy22 sales. And you will see your labour is way off. Once again retail retall 101 "Volume adjust" and "Buy rate"

6. Where are sales for.new products?

7. How do you know occupancy is +5%? Study REITs in centres they sit. Concessions are given on 3 and 5 year. Many flat or down

8. D&A should be marginally falling

all this points to is the danger of forecasting

it's meaningless really

it's not the important question





thanks