Hi YVR, If that is what it is then I don't think it is correct...

Hi YVR, If that is what it is then I don't think it is correct to characterise this as Contributions from Customers. It is either Bad Debts recovered or if units were sold to the new owners of Greenmo then it is sales. Given the very material size of the item, some disclosure would be nice.

There were also a lot of claims made during the 2023 year about picking up distressed assets for low prices but no sign of any of that being booked here. Accounting Standards require recognition of Bargain Purchases in the P&L. It's hard to imagine that gains like that would be described as Contributions from customers, so I have to assume there weren't any.

It wouldn't be flat packs either as veeone suggests as that would most definitely be classified as sales.

Lastly sbondar rightly acknowledged the increasing margin. Last years margin wasn't negatively impacted by the Greenmo bad debt as that was taken below the line. So it looks like genuine increased margin even on lower volumes. Nice.

Regarding the $3.16m FX Translation loss that was recognised outside of the profit & loss, I noticed that in 2021 there was an almost exact opposite FX Translation gain booked to Other Comprehensive Income of $3.18m. Neither of these makes sense as they are very large amounts that would need massive currency movements to be correct. The accounts are presented in AUD but the majority of assets are held in China. AUD:CNY rate at the start of the year was 4.707 and at the end of the year 4.82. That is not a big enough movement on the offshore assets to create a $3m FX translation loss.