Michelle , follow through on your promise, page-8

Yes the childcare wages bill is the biggest outgoing and will directly hurt net profit margins if forced to increase more than can be passed on via charges per hour

But will also affect peer providers and esp. new centres with even tighter margins and higher overheads..

Going off last Qty MFD get funds from Westpac at very sharp rates (wish I could get as good)
RBA looks likely to cut rates this year even further .. so here's hoping MFD can secure another centre or two this year at good rates of return.

the market cannot just continue to turn its back on a profitable growing operation + very high yields in a low yield environment ..