Simon Mander said "Our focus on cash generation and debt reduction over the
past two years has enabled us to make good progress towards our signalled
target of 1.5x net debt to 12 months rolling EBITDA, which we now anticipate
achieving in the first half of FY22.

Hi, I haven't posted on this thread before but this is the biggest takeout of the announcement.We have watched a company that has until recently is a consistent underachiever over promising. I like the fact that the announcements are conservative and outline the risks the company faces ie new competitor completion, inflationary issues and Covid. We are informed.

The biggest takeout is however the above. With net debt circa 49 yr end and a multiple of 1.5 times rolling EDITDA to Net Debt by June. what are the numbers? If debt reduces say 5m in a quarter to 40m then EDITDA must be circa 27m.Am I right and how does this compare to previous years? Any comments