30, page-5

Yes definitely cheap, however don't expect too much action near the recent highs failing another merger or takeover.
Basically good product, poor execution.
I expect the situation will slowly turn around as David Teoh gets more hands on.
Issues have been ongoing from the previous CEO's focus purely on profit (via aquisitions & sales (NBN)and not investing in the systems and staffing to deliver the business products at a market standard delivery time. Everyone there is under immense pressure, which happens when your doing the work of 2-3 people. He was a bean-counter (accountant) after all with little or no appreciatin of the need for an adequately resourced back office to support the troops in the market. The residential side is ticking along OK minus the sh*t fight to get customer service on the line. The use of TPG's call centre in Manila may help this area improve.
The beat-up in The Australian was just ridiculous. One Soul Shop (privately owned) cowboy not paying entitlements, and the rightful reclaiming of connection commissions from dealers when contracts did not get fulfilled.
Pick 'em up cheaply now and bottom draw them for the next merger or take over, or many years ahead when they "right the ship". May even buy some again at this level.