Comparing to their performance back in 2015, the two expense items they are try to bring back down is Employee benefits expenses and Copyright.
I was actually hoping employee expenses would be reduce by around $3-$4M however there is only a variance of 12 FTEs. I believe once the re-structure finalised, they will reduce head counts more in the second half and the following year.
Copyright costing is still pending on the tribunal outcome. If it is in favour of Isentia, the reduction will be back-tracked to Jan 19.
Let hope they can make a saving around $5M per year.
Other associated costs seem to be stable.
Short term pain for now as the company needs to fast track their cost saving and streamline their business model for future growth.
