Ann: Change in substantial holding, page-28

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essentialscutty

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30/08/22

16:53

Post #: 63413882
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Originally posted by volcanochemical: ↑

disappointing results and earnings call commentary. points that concern me:

1. they seem to be moving slowly on getting cost out of head office
2. did not manage to retain the founders of all the clinics they bought which presumably opens the door for them to take clients away from artisan when they go.
3. Maxine was not on the call - when she was CEO her chair was always on these calls and given the share price drop and difficult year, transition from ICT etc I would have liked to hear from maxine during the call. I question when Pete has the experience to be CEO of this venture as it is different to ICT business but i guess Maxine has made her choice.
4. The commentary was around the difficult operation period due to covid during 1H FY22 with gove mandeated shutdowns in VIC and NSW however they burnt the same amount of cash in 2H as 1H.

to sub salt in wound I noticed the SLA SP is up 5% today on their profitable growth story while VTG is heavily down on high volumes. which horse to back going forward?

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Between Spheria and MH hold 35% of the business today. Do you think they are sellers? Another interesting number revenue per store is double SLA so temporary store closures had a greater impact on VTG in FY22. Corporate overheads are starting to come down but expect more investment to drive new stores growth in FY23 and beyond. DYOR.

VTG Price at posting: 17.0¢ Sentiment: Hold Disclosure: Held
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Ann: Change in substantial holding, page-28

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