Ann: Appendix 4C - quarterly, page-31

There’s no magic wand when it comes to company management. Turnarounds take time and management actions generally take around a year to reflect in a company’s bottom line.


The performance over the last few quarters is highly favourable. Costs have been reigned in by close to $3m and revenue growth re established.

Profitability is an outcome of both revenue and costs and with this being the first profit since Q316 I’d say management deserve at least a little credit for returning the equation to where it should be.

Also keep in mind the $375k variation has an end point soon.