I believe Punishment is saying:
1. Writedown and repurchase are two separate things. What you say is correct but DSH did not say they would purchase another $60m worth of inventory to replace the writedown. It is an assumption yes? On the numbers, we cannot see where DSH purchased more inventory..... yet AND DSH management were saying they were holding larger than normal stock inventory leading into XMAS as they made earlier purchases to take advantage of the higher AUD.............; and
2. Where did all the extra borrowed money plus positive cashflow H2 2015 go? It seems suspicious.
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