Ann: ADH FY2021 Results Announcement, page-46

Not to mention the logistics savings of $3.5m per annum starting in H2 FY'22 and in for the first full year in FY'23.

In addition to these savings there will be considerable inventory savings I think in the order of $8m which will be a boost to the cash balance sometime in FY'23 also.

Over the last four years ADH has achieved CAGR in sales per share of 16.6%

Other retailers four year sales per share CAGR growth as follows:

NCK 12.5%
JBH 12.1%
SUL 5.4%
AX1 11.8%
PMV 3.5% (4 years to Aug'20)

Adairs is in great shape and in fine company with these other 5 retailers.

I topped up recently at $4.13 and will do so again if there is any further SP weakness.