Ann: Earnings Guidance and Investor Presentation, page-6

Thunder, I'll bet its NAOS Asset Management.

The issue is not the acquisition but the existing business. It looks like underlying FY'19 is going backwards compared to FY'18 and backing out PennyTel which is approximately 1.5c at the EPS level.
This means their is negative growth in the existing business in FY'19 and Rene Sugo is going to have to explain that today.

This is not looking good. This reminds me of RFG that kept buying brands to cover up shrinking existing business.

And why is In A Box selling its business? The $30m cash looks like a life line to In A Box.
I hope we haven't bought somebody else's problem. And what of the cultural differences?

I am very undecided on MNF as a core holding.

The investor update at 3pm will be very interesting.

Changing sentiment to 'None'