EBITDA line costs per account have increased 11%, and per adviser 22%.
No explanation really. They did say they would be investing more. Covid mentioned as a non problem, some short term lease benefits improved cashflow.
Seems like a manifestation of cut throat competition, as scale should be helping with these costs, not hindering, and markets were great for that half.
Doesn't really justify a PE of anything over 30x.
Ann: 1H2022 Results Announcement Details, page-6
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$27.80 |
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| Open | High | Low | Value | Volume |
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