News: SIV Silver Chef Posts FY Total Revenue Of $287.1 Million, page-28

Pardner, I share your frustration in reading through the report.

Without question, the report refers multiple times - in summary - to a hospitality business PBT of $17.3mil (including overheads).

HOWEVER, using the numbers found throughout the report, I have personally been unable to see how they landed on that figure. In fact, on pg 44, the segment figures suggest that the PBT for hospitality was $12.3mil before absorbing part of the unallocated loss. I've not been able to reconcile other numbers in this table either, like the rental asset impairment or the receivables impairment and I don't understand why.

It's also worth noting that the basic overheads of employee expenses and ordinary expenses have been reported as lump sums across the 2 divisions of $86mil, potentially allowing an arbitrary allocation of those overheads to favour hospitality PBT for this year?

It's possible that we just don't have the correct breakdowns to determine the validity of the numbers in that table? But IMO without knowing how they arrived at the numbers and given some of the contradictions in the rest of the figures, you probably couldn't rely on this table alone. Or you could just take their word for it.