Ann: Annual Financial Report 30 June 2013 , page-7

K,

Yep, sales down 30% and COGS up 6%, leaving a 90% drop in gross profit.

Nice work boys. I wonder why you didn't trumpet this fact, which is central to our business?

BTW, the board must have missed the following on page 10;

"The KPIs require performance in increasing sales, managing operating costs..."

Maybe they should read the document!

Mr Manusu took another 7.8% increase in his remuneration, while Dr Nair, who resigned as CEO, thereby reducing his workload and responsibilities, took a 13.3% pay rise. And Mr Patel took a whopping 51.6% salary increase.

Imagine what would happen if they made a profit? Oh we know that, we'd pay them another $1m in bonuses.