Ann: CEO Resignation and Transition, page-8

Let's just see where revenue comes in for the H2. It wouldn't surprise me if new management cuts some of the fat and focuses solely on ERP Asia and ANZ (both growing nicely), perhaps keeping just one of the service ordering/marketing platforms (more likely the marketing as it is the more organic sell-up option). TEMS will be a losing division within ~12mo I imagine and will get cut too.

When you look at the trends in revenue vs COG/Expenses in ERP Asia and ANZ, the core business (>90% of the revenue stream) is performing very well and margins are improving. ERP ANZ has boosted its margins by >50% in the past year (despite the increase in expenses) and ERP Asia looks to have huge upside leverage when you compare H1 '23 results to H1 '22. Revenue increased 40% yet costs only increased 5%. Bottom line is just jaded by the other business divisions and is long hanging fruit for a new CEO to come in and clear the deck and really get the business humming.