To get a true picture of the result, you really need to be...

To get a true picture of the result, you really need to be comparing apples with apples, preferably the same type and grade. Given there is no R & D tax benefit in the unaudited half yearly result, I decided to strip out the R & D from the prior corresponding period to working out a comparison.

The first half of FY2018 resulted in a profit of $606,887 boosted by an R & D tax benefit of $204,237. If you strip that out, the trading profit prior to tax credits is actually $402,650. When you compare $1,225,000 to $402,650, you get a better picture of the true performance, which is approximately 204%.