Appreciate the tip. I havent had Shine on the radar but of course know about Slater. Annoying about the result as Talbots were a good firm and these guys seem to have flushed them down the toilet. Someone I know who has had very close contact with these guys said words to the effect of "these guys just dont seem to know too much about lawyering".
I think they have been okay until now, expanding by acquisition and paying some good divs but now really this is time to focus on growing the business organically. I dont buy generic statements about challenging market conditions. Its just poor strategy, or poor execution of strategy in my opinion. Living in Perth I still see more cranes than I do people on most days of the week. Yeah, looks really challenging. Whats challenging is most of your key staff walking out the door in an industry that relies on its people as its primary asset. All that goodwill on the balance sheet is worth 0 if you have lost all your staff.
Anyways rant over, (i'd never put this lot in my SMSF if I had any) but I have enough invested to be seriously interested about what they are doing with my capital.
ILH Price at posting:
7.0¢ Sentiment: Hold Disclosure: Held
