I'll get back to you but possibly much better. The COS is calculated using the % provided.
The COS is where they made up ground but they are at 8.3% while their target is 8.0%. This is the challenge - every business either reduces costs or increases revenue to improve the bottom line. Doesn't look like they have much more variable costs to reduce and fixed costs continue to increase.
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- Ann: Quarterly Report and Appendix 4C
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