Ann: Profit Update, page-10

I am starting to get comfortable with the idea that $30M in sales revenue for FY2020 is achievable. What gives me comfort is looking at the FY2019 breakdown. The first half of FY2019 resulted in $4,742,633 in sales revenue or 38.68% of the yearly sales revenue. The second half delivered $7,517,791 or 61.32%.

Extrapolating out the half yearly result for FY2020, if the half yearly sales revenue figure of $11,306,000 works out to be 38.66% of the full years sales revenue figure, then we could expect a full year result in the vicinity of $29,225,000.

I think we're aware that Brisbane didn't come on line until the 17th September, so the FY2020 half yearly result is not a true reflection. They acknowledge in the first paragraph that it impacted the result. There is no doubt the second half of FY2020 is going to a bumper six months. Monthly profit records will be broken. Exciting times ahead. I am confident they will get their $30M figure with ease.

Apart from the dollar savings in ANO being able to do their own lab testing, there will be time savings that will ensure that product is shipped quicker. That's a win!

Full credit to Lev, Geoff, Rade, Laurie, Narelle and managers and staff on a very tidy result. Better days ahead!