Ann: Half Year Results Presentation, page-7

Overall i don't mind the report, as stated above MACPAC really does look the dead duck of their brands although you'd suggest that lockdowns really have hurt them more than most and they should provide profits going forward in more settled times. The interesting thing for me is the significant inventory build-up, while some of this would have been in response to preparing for boxing day (and they've stated a "fortified inventory build-up) it's a very large amount and you you'd hope they'd be able to move it without getting stuck with a large burden they have to discount.