Great 6 months, but one swallow does not make a summer, page-9

The preliminary FY report out today. Here is my scorecard:

Positives
EBITDA increased 25% off lower revenue - they are obviously addressing the cost base of the business
EBIT was positive (just) but I was expecting a small loss
Total Liabilities down 33% YoY
Syphon delivered a profitable outcome again - most consistent part of the company

Negatives
Brockman is normal a strong profit producer for the Group was breakeven
TSF lost money again and continue to be a drag on the overall Group

Overall slightly better than expected. EVZ need to make a call on TSF. If it cannot turn a profit, the call it and restructure. Next 6 months are very important to the Group. I give it a 6/10.