I would also flag that I am not anticipating a huge result for H1 FY18/19.
The AGM language was very careful in how it referred to performance, with 3 key outtakes for me:
- 1H will see an 'improved trading performance' over the prior year despite currency headwinds
- 2H will see an increased focus on revenue growth (ie: stable rev for 1H?)
- Stronger overall profit delivered for the full year, so a stronger 2H again with some key contracts being delivered
1H18 we lost $700k, so an improved trading performance might still see a small loss this half, but ideally we surprise to the upside an eke out a small profit, setting a solid platform for H2.
