Noddy well summarised and respect the risk in terms of the debt accrued in FY22. Something to watch heading into FY23 in meeting long term goals.

Having looked into the Kelly Group after Andrew interview it was very interesting to hear the focus and clarity Brett displayed in respect to the process the group had built up and executed as they made acquisitions.

This is no doubt a driver of getting the PE up and investors willingness to pay for quality.

You simply know what your getting.

The strategy page in the presentation today caught my eye. Specifically in terms of meeting the 5yr plan.

Many corporations are ambitious in plans but to be at the end of the 3rd year of the 5 yr plan and within reach across the revenue , EBITDA and NPAT lines provides confirmation on the effectiveness of the discipline and process focus.

Fair to expect the EBITDA and NPAT margins to improve in FY23 as the acquisitions are bedded in.

Disc Holder RL