Brexit brings more uncertainty, but although I would hesitate to say the immediate impact on us is positive, it is probably correct to say it will not be negative. The reason is that the currency movements are in our favour, i.e. little movement in the Australian dollar, a slightly weaker Renminbi and a stronger Japanese Yen. All good for us. In the longer term, who can say? The biggest impact on us happened last year when the Australian dollar collapsed with a slowing Chinese economy and a poor outlook for resources. That was bad for us. Our Australian clients have suddenly found that imports are 30% more expensive and that has hit us hard. Our strategy since the start of last year has been to sell more in the Chinese domestic market. That is going quite well and we hope this year to increase domestic volumes to about one third of our business.
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