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Great article. Well explained — earnings have significantly reduced in FY24, despite increase in revenue, why is that?

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Had a big tax write-back in 04/23. So if you look at pre-tax profit, was +10% in 04/24.

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Got it, makes sense 👍

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Nice piece. I know Rio Rancho well. Definitely growing fast.

Glad I found your substack.

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Thanks, I enjoyed your podcast on LB.

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