That’s true but you’re being an extremely harsh critic by...

That’s true but you’re being an extremely harsh critic by suggesting that for TNT in particular.
The last 12 months they have articulately rebuilt the company from the shambles it was to a legitimate contender in Australia in the cyber security space.
if anyone had told me 12 months ago Tesserent would be where they are today I would have called you insane and get your head out of the clouds.
They have now built the fundamental blocks to create organic growth off the companies they have acquired.
Anyone who has completed a deep dive on TNT would have noticed this already.
The rate of acquisitions will slow now, we may see one or two in the next 12 months however the focus now will be consolidating the companies under one brand and roof with a rebrand strategy- which will bring fresh eyes, media attention and multiple advertisements through relevant media outlets.

Tesserent now have an end to end solution in their offering from the last 12 months of building and will now be able to leverage off it.

Like many others, I am confident we’ll now see the organic growth you’re being critical of as the process is now there to complete this component- they barely had a solid fundamental business last year which is relevant and stands out in the P&L released yesterday.

Along with the above we have expansion in New Zealand and will be tapping into a new market- great choice by the board just like all the other great choices they’ve made this year.