To be honest, I am not sure how I feel about this result. There...

To be honest, I am not sure how I feel about this result. There is a lot to unpack from it - one-offs, underlying numbers, discontinued business, write-offs, significant items, etc, make the whole thing not that easy to understand.

I am still scratching my head as to why they purchased the Philippines business to complement their Australian call centres, then proceeded to turn around and sell the Australian call centres, but keep the Philippines business. The Marketing Solutions business (essentially their letterbox distribution) has very little synergies with the Managed Services (Philippines) business. If someone wants to buy the letterbox distribution business, which I think a few companies might consider buying, I am not sure they want to be stuck with the Philippines business.

I will have a look at the result again over the next few days.