Does anyone know what caused the decrease in margin in H1 2021? There doesn't appear to be anything stated.
Gross margin was 28.4% in 2019, 27.4% in 2020 and down to 10.7% in H1 2021. Just wondering if anyone knows if this reduction will continue for H2. Surely the bull of COGS is contract labour, so as long as they retain margins vs pay rates then you'd think this should be fairly stable?
If they could maintain margins in the high 20's then we could be on to a sizeable bounce here. Not sure I'll get anywhere near my breakeven of $15.51 (thanks Maxy - who's on my never again list) but a bounce up regardless would be nice.
Ann: 300% FY21 Revenue Growth Guidance and Trading Update, page-16
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