@woomp001 - g'day!!
Thanks for posting your thoughts on the recent BET 4C - it's always good to get different / conflicting opinions.
You mentioned this in your post (in bold below):
"Well, they went from 2806 to 6091, but the revenue grew by a very similar amount.
For me the real key is to reflect on the fact that pm&oc's for ALL of FY21 were 34% or revenue. (7479/21971)
In FY22Q1, they were actually less, at 29% (6091/20953)
So that goes completely against what you just said really, and again, is one of the key reasons for weakness in the stock".
The fact that the product manufacturing & operating costs came in lower for Q1FY22 (at 29%) than the previous year (which was 34%) was actually one of the real positives that I took out of the latest BET 4C quarterly.
It told me that BET's overall gross profit margin would more than likely be considerably better after the Sportech acquisition - and a significantly improved gross profit margin will be brilliant for this business as it really cranks up the revenues.
I agree that it was a little surprising that there was a Nett Operating funds outflow of $1.494m for this quarter (I thought it might be break even this quarter with a full contribution from Sportech), but I suspect management have spend quite a few dollars in preparation for fixed odds etc coming on board.
Spending money to prepare for what is inevitably coming![]()
IMO it's been an great opportunity over the past few weeks to top up - and I have taken that opportunity.
Obviously time will tell if this was the right move!!
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