I must be blind as I couldn't find the phrase, "heavy investment...

I must be blind as I couldn't find the phrase, "heavy investment in R&D", in the report. I did find the following:
"XTEK has continued to invest in its new products in order to prepare for the growth of the organisation. The R&D investment represents $1.2m and is similar to FY17. This amount demonstrates a larger underlying profitability in the operational activity of the company."

The difference in R & D spend between the two years is $42,377 which is hardly an extra heavy spend in wages & salaries for executives.

I notice that you are not a holder and advocate selling. No surprises there.