Ann: Half Yearly Report and Accounts, page-43

The write-off means they wasted investor money to buy a business that won't perform to expectations when they bought it. It means the assumptions of revenue and/or profit growth won't eventuate as expected. Its a dud overall business, that us just mashing revenues together from other dud businesses and hyping up shareholders in the meantime to get capital out of them. To ignore the relevance of this and think the acquired revenue growth is great still is an exercise in denial.

They can generate another $30 mill of revenue again, even $40m in the next half but it doesn't change the fact management bought dud businesses as its clear in the accounts there's no scale and the growth that does come sucks cash out of the business. A working capital hole that shareholders will have to keep filling.