Not sure if you are misinformed or intentionally spreading miss...

Not sure if you are misinformed or intentionally spreading miss information. You are picking up lines from the report and trying to project it as a negative while it is not the complete truth.

"The quality of pearls produced in the year improved from the prevailing levels seen in FY23, however it remains below recent highs of FY22. Most of the improvement in FY24 occurred in H1 FY24, with harvest results in H2 being similar or marginally below the improved levels seen in H1. Based on positive results for a small number of pearls recently harvested and graded from certain genetic groups, and for which large volumes remain to be harvested in the coming months, we anticipate an upward trend in overall pearl quality in FY25. "

FY25 > FY24 > FY23. FY22 was the best ever.

FY22 was the highest quality and they used it as a reference. They don't mean quality kept dropping from FY22.

While quality is improving it is still not ATPs best ever which was observed in FY22.