My maths may be wrong, but if $US2,880 is a 30% cost reduction, then the actual manufacturing cost prior to the savings is $US2880 / .3 = $US 9,660, which is a lot more than the $US8,000 list price. Even subtracting the immediate relocation savings ($980), $8,000 is still selling at a loss ($9,660-$980 - $8,680). Even with another $1900 savings, cost = $8,680 - $1,900 = $6,780, or a $1,220 margin on an $8,000 product.
Clearly they need to make a lot more progress, and we can only assume they are doing so.
.. or my calculations are way off.
Ann: Notice of Annual General Meeting/Proxy Form, page-12
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