Dividends reinstated at $0.01.
$3.5m writedown of TFS
2.48c, 2.75c, 2.03c adjusted EPS for the past 3 years. That still puts us on a high PE. EPS needs to be higher.
Adjusted same firm revenue up 1%, but total accounting revenue down (because of selling under-performing assets).
Selling off the weak performers seems a bit odd. Why not improve them? Selling when they're down will get a bad price and have write-downs. Unless a lot of the previous strategy is a write-off and difficult to fix. (Maybe related to what somebody was commenting some months back about principals leaving)
Same firm employees seems to be down 10%, though the revenue is up 1%. Not bad, probably helping the margins.
Cash flow from operating activities is down quite a lot. Why?
CUP Price at posting:
59.5¢ Sentiment: Buy Disclosure: Held
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