yes margins do seem to be an issue for them despite rising sales
CODB does seem to have increased since 1H22 and perhaps this is the acquisitions and the margins on those businesses being low (NZ also seemed a driver with very low margins)
looking at the last 3 years, it does appear that both sales and PBT increases in 2H, but hard to know given all the moving parts (the hope is that this is investment in the business which will eventually be matched with higher sales).
DDR Price at posting:
$8.40 Sentiment: Hold Disclosure: Held
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