Ann: Trading Update, page-2

Using the midpoint of expected NPAT for 1H 24 compared to 1H 23, $51 million against the previous $65 million, this is down 21.5 per cent.

However it's pleasing that MYR hasn't moved into lossmaking mode for 1H.

Given total sales are estimated to have dropped three per cent, in reality given CPI it's around a seven to 10 per cent decline.

The typically far weaker 2H in FY 24 may be difficult but after that, the 'tax cuts' may help a little, although householders are experiencing higher mortgage rates and anyone who goes to supermarkets knows prices have risen.

Excise on alcohol has just again risen, the A$ is around 65 cents making imports expensive and whether petrol will rise in price is an unknown given geopolitical instability.