Yeh - my assumption was that it "broke square" because they stopped actually operating the business.... but that doesn't seem to be the case if revenue was 20 million rather than 10 million for the year. Therefore, I am confused and have no clear answer except that it must have broken square.
Only other thing it could be (but I don't think it's a fair accounting representation) - would be the business kept it's loss run rate in 2H, and they applied the sales proceeds (4.5 million) against the loss to get to break-even.
Either way - the only way is up from here I believe.
Ann: Sale of Legacy Capital Business, page-14
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