I have some thoughts on that Zero. Looking at the numbers in a...

I have some thoughts on that Zero. Looking at the numbers in a bit more detail just now. Haven't paid much attention as don't intend selling. I think are too cheap at 8x EBITDA and with Task at what looks like could be a launching point to me in both divisions. I thought could be in for reversal on numbers given probably driven up by momentum players so not surprised. Agree needs to keep delivering and gain some institutional support.

On the numbers, Plexure division huge, including key metrics as well as the contract repricing. That bodes well. Task Division though I thought a little disappointing. Tone was on building foundations. The growth in SAS revenue in the second half was less than I expected. This is what they said when they reported FY22:

30% increase in SaaS AMRR (based on March 2022 versus prior year period) to $7.7m, with a further 32% SaaS AMRR growth already contracted for FY23.

In the first half AMRR growth was pretty good at 25% but slowed to 14% in the second half so some of that contracted growth didn't seem to come through. Overall Task revenue actually down on a very strong first half. Still decent but waiting for takeoff. I think that could come over the next 12 months.

		H1	H2	FY23
Group EBITDA ($m's)		2.0	9.9	11.9
Task Division	H2 FY22	H1 FY23	H2 FY23	FY23
$(000's) YE March
SaaS Revenue		3,876	4,004	7,880
Other Software		1,461	1,442	2,903
Recurring	4,434	5,337	5,446	10,783
Non recurring		936	662	1,598
Hardware		3,292	1,466	4,758
Other			98	98
Not Recurring	1,967	4,228	2,226	6,454
Total Task Revenue	6,401	9,565	7,672	17,237
SAS AMRR	7,700	8,100	8,778	8,778
		+ 25% YOY	+ 14% YOY