I'm not sure how they go from a NPAT of 14m in 2018 (for...

I'm not sure how they go from a NPAT of 14m in 2018 (for continuing operations excluding goodwill write-down) to a NPAT forecast of 7-10m in 2019 when you would expect Radio Rentals to stabilise or at least be offset with the growing & more profitable Equipment Finance business. I guess part of the conservative view on NPAT is the provisioning for AASB9, but surely finance costs are on the way down.

Seems like the CEO is low-balling the market & board and will cash in on his STI & LTI when he improves on a fairly poor forecast.

The board & execs get decent salary in this company, and 42.5% of STI is paid if NPAT is great than 85% (100% when you hit 110% of budget). Not sure what the budget is, but that does not appear very challenging to me.