The seasonal patterns will still be there. However with the new system the revnue will be "smoothed" as parents won't be running out of the fixed $7500 subsidy in CY Quarter 1 + 2 anymore. So the CY 19 H1 will be stronger than CY 18 H1. CY18 Q3 may be affected as parents get used to the new system and get used to not running out of subsidy. CY 18 Q4 should be strong as parents have settled in and found the right numbers of hours to make the system work for them.
Ann: Appendix 4D and Interim Report H1 CY2018, page-7
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