Ann: Investor Presentation - FY23 Annual Results, page-85

Yeah, this next PPE result has all sorts of questions hanging over it.
Previous PPE updates have suggested weakness in a couple of key high margin employment sectors, such as tech, where there have been a lot of layoffs.
Also saw an AFR article on an award loophole PPE had been using to pay workers lower than the norm, and this loophole has now closed.
I hold the view that PPE has been bashed up a bit excessively by the market.
Definitely got the fingers crossed a bit tighter than normal, and hoping that a bit of organic growth might paper over the cracks.
We will see if the market has it right and PPE have hit a major pothole, or whether the market is just being over-emotional as it often can be.

Gosouth