Is it really a true 2% increase in actual R&D spend? I suspect it probably isn't because if you look at their FY19 results presentation they also stated an increase in R&D expenditure but it was all down to accounting practices such as a decrease in capitalised development costs, increases in amortization costs and adverse FX. Haven't yet seen a breakdown in their R&D expenses for FY20 but I suspect the so called 2% increase will again be down to accounting as opposed to a proper increase in R&D expenditure.
Ann: AGI Release - Business Update, page-11
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