If you have a look at the previous 4C, they forecasted 4.8m staff costs for the most recent Q but that came in at 4.1m instead. Looking at the previous Q, staff costs were 4.7m.
Perhaps rather than viewing it as an 18% increase QoQ, it would be more accurate to describe this quarter as particularly cost efficient?
Ann: Appendix 4C - quarterly, page-11
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