They're not adding anything back. They reported their statutory position, which included extraordinary costs being spent as part of a growth initiative. These are one off costs that don't impact on their underlying operations (not yet at least but they will in the future - it's called investment, not an operating cost). But they did highlight that their underlying operating position was very similar to their PCP in FY24, being a profit. Big difference!
If their underlying position went from $1.1m profit to a $3.6m loss, then sure, I'd be concerned. But I'm not, because it was flagged well before now that the business is in transition from a small operator to a large operator.
FND Price at posting:
$5.91 Sentiment: Buy Disclosure: Held
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