I think we are on the same page with what it may say, but then I...

I think we are on the same page with what it may say, but then I also think the vast majority of the +100m volume the other day were also on the same page and even took into account full year NPAT.

Had they not flagged drastic action on spend then I think we would be having a different convo, but they have taken action in order to recover margins. So those 1H ratios as you say may not be an accurate maker going forward as it related to that aggressive spend.

Buyers now will be the ones that like the underlying business and realise that even on a recapitalised basis it could provide serious upside through 2020.