Ann: FY23 Results Update, page-89

Market is responding to sentiment and current conditions because its hard for any business especially one that is strongly funded by debt to succeed in rising rate economy.

Its why tech gets smashed - the only small caps that are seeing success are the rare metals and resources stocks which most are riding a wave of market sentiment anyway (ie lithium boom).

My comments made were solely in response to interest expense increase and suggesting that there were reasons for this other than just quoting a so and so percentage increase against a lower revenue increase.

I also explained how lowering bad debts has helped to mitigate the interest expense risk so far and i explained that if these start to rise then they are back in trouble again.

Haven't mentioned anything about share price - just that these figures seem to point in the moving forward in a better direction all while quoting the report.

Adjusted loss also decreased by 50 mil from last year being 256.5 mil to 204.7 mil this year so not sure where the 187 mil is quoted from. You're actually telling me in a worsening market for interest rates the adjsuted loss before tax decreased compared to a year with the rates were much lower. So as i said - seems like the right direction.







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