In 2017 they did disclose / tell me what the earnings target was for the LTI. Turned out a bit embarrassing I reckon
It was Base Year is F17 and Base Underlying EPS is 5.6 cents and a 35% CAGR over 3 years to F20 - ie an EPS of 13.8 cents in F20 (Underlying NPAT of $83m)
They reported F20 Underlying NPAT of $42.9m - v the target $83m .... bit short eh .... and nowhere near $83m even now .... let alone an eps of 13.8 cents
Maybe that's why they won't tell me the earnings targets this time around
Maybe Earl got the sack after all ... or told to go look for another job
But no doubt plenty of excuses for falling short of target and discretion was used and incentives were paid out anyway .... that's how it works isn't it
Last edited by winner69; 21-11-2022 at 12:44 PM.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
Thanks for the thorough reply Winner.
Personally I have no problem paying people well, in fact even very well, who do a decent job. I too ran my own business under the old principle "dont muzzle the ox when treading the wine press". I think that is good long term business 101 and certainly served me well.
But what I dont like is how this all seems to be deliberately murky. I cant see how you asking about the deal as being somehow sensitive
Anyway, thanks for the response and you too Ronaldson. Only 2 more monsoons to go through now until report day.
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