Ann: CEO Transition, page-33

I should mention also - to generate the revenue in 2022 (remembering they were quite behind at the FY 2022 AGM v 2021 due to store closures) they then moved sales up significantly in the Christmas period (helped by coming out of lockdown). What's interesting is that in 2021 they managed to do 91m in revenue from 40m in cost of inventories sold. In 2022 - it was 80m in revenue from 37m in inventories...significantly impacted by promotional activity/discounting (or cost of goods went up significantly, but I haven't heard of this large a supplier increase). I suspect 2023 may have the same issue, because of tough times there was heavy discounting across the board and dusk sort of had to follow along. I've definitely seen anecdotal evidence that the 'sale' times were huge (black friday and boxing day) - but this was also when dusk ran some very large promotions/discounts. Will have to wait and see.