again they've repeated a strong caution about how good the second half of last year was. I had a look back at the split between 1H and 2H for the last 4 years. On average, 1H rev was 43% of full year revs, 39% of full year profit before tax, and 28% of full year NPAT, across FY17, FY16, FY15, and FY14.
So there is a consistent pattern of 2H being much stronger than 1H in each of those 4 years. I was a bit surprised by that. Not quite sure why? Deals done by christmas/NY and then a quiet time during summer? I don't see any reason not to see a repeat of that in FY18 - ie, 2H again stronger than 1H.
(NB. 1H this year was $10.2m. Last year 2H was $15.4, and it was $11.0 and $10.5 in the second half of the two years prior to that. so 1H was strong in FY18, but 2H should be stronger again given seasonality, the deal pipeline, and new initiatives.)
All looking very good for continued strong performance in my view.
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