CAJ, page-43

Good financial result.
However the following comments are somehow a concern:

"Lower and more patchy YoY growth over holiday period extending intoJanuary with organic growth circa 2.1% vs guidance 3.6%. No Medicaredata since October 2018. Subdued GP attendance reported – strong driverof CAJ referrals• Delays in completion, deployment of growth capex, reassessment of agreenfield site, and doctor under capacity in WA clinic network lead tounderperformance in first half. These matters have all been rectified andare non permanent in nature".
If subdued first half demand persists for the balanceof the year it is expected to result in a reduction tothe previously guided full year FY19 EBITDA forecastin the order of 10% to 13%.