Note 3 shows Australia is actually reducing, and the growth came from NZ and the USA. In terms of profitability, new business will be margin accretive as it does not attract new overheads (or at least only minimal) - still think it is mostly run out of Aus. In the last half, Aus went back by 3%, but NZ up by 258%, USA 127% (74% underlying if you exclude the once off hardware return), and the rest of the world 3%. Overall growth of 12%, or 10% underlying.
DTC Price at posting:
7.4¢ Sentiment: Hold Disclosure: Held
