I hate to be a negative nelly, but not sure this is going down...

I hate to be a negative nelly, but not sure this is going down as mgmt are expecting it to

They did 52.7m in revenues in the ballistics division last year and this announcement confirms that this is only the 2nd material order; so that means they have ~5.8m in revenues this half (assuming they deliver this by December). The added yellow flag being they highlighted this reduces inventory which suggests that perhaps they had too much at the end of the last financial year (~26m in Jun23 vs ~16m in Jun22).

Arguably the FY22 & FY23 results benefitted from what must have been those large orders presumably from US/Ukraine, however, mgmt should have highlighted in their FY24 outlook that those results are not repeatable (perhaps the tech division can grow, but it seems unlikely that they will see a repeat of the elevated revenues in the last 2 financial years).