yes thats an important point. look at Entertainment acquisition releases where that was explained in detailed. Its seasonality so working capital is high at the end of 1H FY ( 31 Dec ) before spitting cash in the last 5 months of the year leading to a strong cash by end of June 30.
We should all be looking at like for like hence end of FY for comparison and as all of you pointed, cash position by end of FY19 should be higher even with further investment going into the bizz for FY20 clean sales and earnings growth.
I wouldl like to see Mnt and Board backing their actions and buying on market. that says more than 1,000 words.
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