Ann: Half Yearly Report and Accounts, page-2

Revenue is up by 15% and Profit after tax is flat in this half year. But, if we dig deeper we learn that:
1. EBIT up by 25%
2. Profit before tax is up by 22.8%.

The above result includes assets impairments of $688k. Excluding this, the underlying EBIT is up by 39%.

The reason given for the flat NPAT is last year BYI benefited from higher level of tax credits.

The drop in cash should reverse in the second half as payments are received fit contacts signed in November and December 2015.

Overall, this result is better than what I expected. The challenge is to fill in the big hole left by the discontinuation of Mythbusters and to really turn around the digital business.