Not sure how you can say it’s a decent result. They are literally making excuses as to why they are up vs last year as soon as you open the report. That’s because they know that activity won’t carry through to other quarters.
I can already see Q2 excuses:
- Wyong down due to hungry jacks and Oporto opening
- Only 1 out 4 days from Easter fell into April
- Minimal holiday traffic resulting in lower foot traffic in stores
Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-10
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