I am a long term holder of this stock and very comfortable with its business. There is a lot to like about it.
But I don't rate the management team very highly on capital management.
They could have used their strong cash flow to pay down debt and conduct a buy back.
Instead they funnel it off into a property development play riddled with related party arrangements, and now they reinstate the dividend reinvestment plan to support growth.
Founders are supposed to protect the interests of existing shareholders better than anyone, but that doesn't seem to be the case here.
Surely they are wondering why the share price today is the same as it was 8 years ago, despite the business growing substantially??
Its not rocket science.
Gosouth
I am a long term holder of this stock and very comfortable with...
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Last
$2.80 |
Change
-0.040(1.41%) |
Mkt cap ! $635.1M | |||
| Open | High | Low | Value | Volume |
| $2.82 | $2.82 | $2.80 | $305.4K | 109.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1948 | $2.80 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.84 | 1000 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$2.81 |
Change
-0.040 ( 0.02 %) |
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| Open | High | Low | Volume | ||
| $2.82 | $2.82 | $2.80 | 1220 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| BLX (ASX) Chart |