Um, be careful, ladies and/or gentlemen,Because of the...

Um, be careful, ladies and/or gentlemen,

Because of the seasonality of the business, you can't simply annualise the interim NPAT number in order to derive a full-year figure.

For example, NPAT for 1H12 was around $6m, yet the full-year result was $2.8m loss (or about break-even, at best, if some accounting adjustments are made). So the JH12 result recorded a $6m to $8m loss.

(Although this was a pretty acute 6-month period for the company for a host of reasons.)

If memory serves, the rule-of-thumb has been an 80%-85%/20%-15% split between the first and second halves.

But the rules have been thrown out of the window to a degree in the past few years with the consumer having gone to ground.

Cam