Ann: SRF 1H FY2017 Results Announcement, page-25

Funny how you two are still here sniffing around. Margins already >45% which includes the discounting done to reduce the aged stock from previous management. Margins will increase again next half as this finishes. Your made up sales figures don't show correct margins and assume everything is discounted. Additionally as stated by Mike, the reduction in costs from the restructures is yet to fully hit the bottom line, and costs are expected to significantly reduce in the next half