Annual Report (shareholders), page-53

I picked up that too. My reading is different to yours though. I don't believe he was referring to results when stating short term challenges. I think he is referring to the ASIC review clouding the positivity that their SGS opportunity would have created through its medium / long term transformation.

The above is evidenced by using 'robust and transparent' in the same quote. Those are terms used to describe how S&G have responded to ASIC.

So in my language: The feel good factor of acquiring a new channel of work has been lost in the short-term due to the publicity surrounding the ASIC review.