Something has been bugging me about the table in the AGM...

Something has been bugging me about the table in the AGM Presentation; see below.



The 2014 EBITDA Margin for the 4 months to October was 21.1% and was 16.4% for 2015; so revenue was down 6% against expectations and margins were also down 5%.

If the same revenue run rate from July to October applies for November and December and assuming closed for Christmas/New Year then revenue for the 6 months will be $23 Million. 16.4% EBITDA gives $3.8 Million. Depreciation, amortisation and interest at the same run rate as the first 4 months to October will cost $2.3 Million; so NPBT for the 6 months would be $ 1.5 Million. Last year was $6.5 Million!! also the number of issued shares has increased 21%....hhhmmmmm!!!