The reference is to MRR (monthly recurring revenue) which may skew the calculations you did? Also BTH acquired a company from 1 July 2018 which will influence the numbers.
Perhaps management is expecting less expenditure from December after sustained expenditure for some time. I don't think they would want to set themselves up for failure so I believe their forecast though acknowledge there isn't a breakdown of the forecast so we don't know why their numbers will improve and how sustained the change will be.
I'm optimistic but understand the questioning.
Ann: Update Revenue growth, operating outcome, customer retention, page-16
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