that still doesn't explain how the TNT unaudited got its...

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Petrj

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14/09/21

13:29

Post #: 56050789
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Originally posted by RobP111: ↑

Both revenue numbers are correct. The higher revenue figure is total sales. The lower figure is due to a statutory accounting standard which stipulates that certain sales have to be decreased by the cost of sale. There is no effect on profit. Frankly, I think Shaws should be using the higher figure.

From the 30 August Announcement to the ASX:

"During the year ended 30 June 2021, the Group reported total sales turnover of $96.7m, statutoryrevenue of $67.4m and normalised EBITDA of $9.6m (excluding acquisition related costs and nonoperatingshare based costs, 75% of which are non-cash costs)."

"TNT’s financial results have improved progressively throughout the year culminating in a fourthquarter turnover result of $38.2m. This also supports the business comfortably exceeding its initialambition of annualised turnover run rate of $150m."

"The Group has achieved a normalised net profit (NPAT) of $4.9m, excluding acquisition relatedcosts and non-operating share based costs. Once these costs are added back in, this equates to astatutory reported net loss of $4.5m for FY21."

NOTE: "Under accounting standard AASB15 Revenue from Contracts with Customers, some of the Group’s software productsales and hardware sales are required to be recognised on an agency basis and be netted down against the cost ofthose products sold – which results in a lower reported 'Statutory' revenue compared to Turnover (the Turnover or‘Gross sales’ beings equivalent to the value invoiced to customers).

And furthermore, I like this table from the same report as it shows TNT are not totally relying on Government work:

Expand

that still doesn't explain how the TNT unaudited got its NPAT/EPS figure wrong by a whopping 12m or 3m if using the normalised npat.

TNT Price at posting: 24.0¢ Sentiment: None Disclosure: Not Held
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0 Great analysis

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that still doesn't explain how the TNT unaudited got its...

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