Ann: FY21 BTM Revenue Results, page-159

The positive report was real not a mirage. It was much better then expected. The fundamentals of the company are still excellent including its reasonable debt levels compared to other highly leveraged not yet profitable companies . There is only one thing I can think of to account for this mammoth fall. The Delta variant ripping through Great Britain, Europe and the US mercilessly and increasingly disturbing news on this. Steep rises in hospitalizations with the unvaccinated and increasing deaths . Big concern for the US as around only forty percent of Republicans have said they will be vaccinated compared to just under 90% of democrats. This divide is not an issue in GB and Europe who are scrambling to beat it with mass vaccinations continuing. This means more delays for companies like CSL and PNV with outcomes. I just do not see any other explanation for this drop. We may have to wait till the last quarter to see profits really unleashed. In the meantime stay calm and carry on !