Solid result, in my view.
Interesting to look at the phasing of the result over the two halves.
1H FY23 NPAT was actually down 1% on 1H FY22.
2H FY23 NPAT grew 13.7% on the prior year. Combination of factors - really strong expansion of GP (39.5% to 43%), driving PBT to grow 8%. Lower effective tax rate dropping down to 13.7% NPAT growth.
Revenue growth was stronger in the first half but didn't translate down into earnings growth, the reverse happened in the 2H. Probably product mix & sales price adjustments catching up in the 2H to cost increases borne in the first half without commiserate increase in pricing.
Nice to see it hit consensus and achieve growth. Question of the lack of outlook and rational for the redunancies out of CHCH (is it demand led or rationalisation & improvement led).