FY10 has been and gone. We are now in H1 FY11.It's interesting...

FY10 has been and gone. We are now in H1 FY11.

It's interesting to note the reduction in revenue but no corresponding reduction in EBITDA. Obviously the higher exchange rate against the $US would result in lower revenue in $AUD but being an Australian company, I would imagine a significant amount of costs (such as employee costs) would be in $AUD. Cost reduction is one of the two reasons given for improved margin.