Ann: Appendix 4D and Interim Report, page-8

Was listening to the presentation this morning and had a trawl through the results afterwards.
I think the bottom line numbers might have disappointed those looking to trade SPZ but it would seem the investment thesis is still well intact for long term holders.

Increased costs due to expansion into Germany and AUS took a bit of the gloss off the revenue growth but the future ROI is what I'm after.
It looks like SPZ is on target to at least meet the FY EPS target of 1cent per share still so I think today's reaction is maybe a little unwarranted but the market is in a fickle mood at the moment. During the call they had a couple of questions about sustainability of PBN revenue and QLD and UK in particular. I thought their responses were satisfactory but I guess the market will "shoot first and ask questions later".

Happy to hold for the LT