Where's the promised newsflow, page-276

Hi Ryan,

I agree, that is too low a cost. I think you may be overlooking my point that the 24 staff from Greenshoots haven't been accounted for yet - because the acquisition closed on the last day of the 30 September quarter, so they wouldn't be on the payroll for that quarter. So, if 90 staff is the correct [current] number, then Q1FY22's amount of $1,458,000 was split across ~66 staff. Annualised, that is $88,363 per FTE which is getting close to the average annual Australian salary. But that means that staff costs for the upcoming Q2 will almost certainly increase as there will be another 24 headcount added from the acquisition.

What I can't yet understand, is why such a huge jump for the first quarter - and no explanation in the quarterly? I am not trying to 'downramp', it seems a fair question as it is the number that stands out on the 4C.

Cheers