So all on track mostly. Some key points from my perspective: -...

So all on track mostly.

Some key points from my perspective:
- 80 store renewals due this FY. This has the potential to reduce the cost base further as loss making stores can be pruned back.
- they really should halt the new store rollout until they sort out their merchandise mix especially considering the weak retail environment. This would immediately increase their FCF by a large degree.
- the dividend halt will be the main reason the SP drops today.

Other than that I think the result was as expected.