Ann: Investor Presentation, page-26

It appears to me that in the DDR FY22 Directors report all of the fears expressed posters here have been commented and expected to be addressed with very plausible explanations. Rates have been recognised specifically and it is recognised that improved capital management will be required to reduce the impacts. This is the relevant clause "Interest rate increases in FY22 had a material impact on the Company’s profitability. The trend for increasing interest rates is expected to continue in FY23 requiring a more disciplined approach to capital management and more strategic inventory investments. The Company is increasing its focus on its weeks of inventory holdings and general business hygiene as the cost of capital continues to increase. Managing access to capital, inventory holdings and customer credit is part of the Company’s core competencies, and we expect to gain operational efficiencies in these areas as we place increased focus on them, particularly within the businesses that have been recently acquired." Such specific recognition should give SH some comfort about FY23 results. The softening of demand for some hardware devices is also mentioned but directors consider that the demand for backlog items and new services together with synergies within the last two acquisitions will continue the demand dynamics of FY22 despite the market settling. Seems to point to an increase in revenue together with a possible containment of costs which will give your comment of a possible beat of last years result. It is the one thing I like about this company and that is its recognition of where weakness applies and its adroit approach to fixing them.