While DTL's earnings are heavily June-half weighted, what...

While DTL's earnings are heavily June-half weighted, what happens in Dec half years has historically not been that impactful on overall Group because earnings in December halve's were historically negligible.

But in recent years Dec. half earnings have become meaningful,  if not a proportion of annual earnings then in nominal dollar terms, as can be seen below (DH represented by the darker blue columns):




The other point worth noting is that the most recent result, with Pre-Tax Profit being "only"10% higher than pcp, is actually a lot stronger than it appears at first glance, given that DH2020 was cycling a record  DH2019 which, in turn, was 41% up it its pcp.

So the DTL Growth Train just keeps keeping on.

And with the cloud, its TAM has become many times larger than it was 4 or 5 years ago.

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