Anyone know what the $1.8m in 'non-recurring cost reduction implementation expenses' is? Was $0.8m in Q1 FY24 and implied value in Q2 FY24 of $1m (H1 $1.8 - 0.8 Q1). Seems like quite a lot and with the majority of operating costs being remuneration and headcounts 'increasing' per discussions in this thread, struggling to reconcile what this pertains to? Previous CEO got paid out 6m salary on termination Q1 ~$250k, rest not sure... Unless they are moving development or cust support offshore?
Big assumption, if it is actually non-recurring, then annualised underlying EBIT run rate from Q4 would be ~$7m (implied $1.8m, h1 $3.2 - Q1 1.4)
Ann: H1 24 Results Investor Presentation, page-21
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