Ann: Half Year Accounts, page-33

that is correct

the amortisation is a non cash expense and when stripping out the depreciation and amortisation figure from the financials it does not look so bad.

the Company has capitalised an enormous chunk of expenditure (~$22M) over the years so the heavy depreciation/amortisation figures year on year is expected.

not sure why he is referring to gross profits when talking to the financials when they are clearly presented by nature....not function

Wolf