At least the buyers are somewhat back, for now...
I agree with you, it is hard to know what to make of this result and it would be nice to see more guidance / direction from mgmt, especially at such early stages in the company. Employee expenses definitely went up a lot this half.... I guess we will see full-year whether they can make a return off this.
Longer term thesis remains in tact with "strong export sales with international demand of products in excess of supply" and I assume this will be from China so decline in gross margins make sense. This is a patient, slow multi-year story and I do question whether I can wait sometimes... NAOS certainly can.
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