Ann: Quarterly Report and Appendix 4C, page-6

Cashflow flattred by 4-5m this quarter because of timing of a payment, but even if you assume that is $5m, a $16m positive operating cashflow is outstanding

They did flag this, in Dec, but Operating revenues of ~$64m is above their $58-61m estimate, and with a margin of ~60% you are looking at a 1H23 gross profit of ~38m which even with the guidelink acquisition should mean they are PBT positive for 1H23. The US business really coming through and if anything, the Aus & guidelink has been the laggard (and I'm still scratching my head as to how there is seemingly no revenues from NZ and the UK is yet again marketing in 2023). Anyway, Aus/NZ/UK all immaterial given the US result........the hope now is that they don't drop back to $15-20m in the US each quarter and retain some of this higher run rate at this higher margin.