It is important to recognise that the revised outlook does not reflect the underlying performance or strength of the business. The Board and Management have determined that it is appropriate to address the inventory imbalances aggressively in order to allow the business to return to growth as quickly as possible and to deliver acceptable margins. Most of the actions that we are taking are non-cash in nature with the result that Company’s balance sheet will remain strong, and we would expect to see improved performance during FY22.
Specifically, it is estimated that if the one-off charges and sales reductions to reduce inventory in the trade were backed out for this year, the business would record annual revenues in the order of $1.3 billion with an EBITDA margin percent in the low to mid-twenties.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
They will be giving away stock. Maybe buy 3 and get a 4th for free. Or buy 1 and get a second for free
Aggressive they said.
Not befitting a premium brand charging premium prices. I'm really angry right now although I'm not even a holder anymore. I should have listened to my own advise when the board got rid of Jayne to reinstate Geoff and sold then. I was stubborn until it hit $10.
1.) Possibility of a share buy back mooted
2.) No confirmation of the Mataura purchase proceeding, indeed the review say's ..."that the Company’s cash balance at the end of FY21 is expected to be broadly in line with FY20 (excluding the MVM acquisition impact if it completes in FY21)." 3.) Resignation of Peter Nathan CEO of Asia Pacific...... under whose watch this happened.
4.) This is clearly just the start of the review process
5.) New cloud based accounting management system touted.... clearly their systems weren't up to scratch.
Good to see the new CEO taking aggressive action. Interesting times ahead. GLH.
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Originally Posted by winner69
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