They put out aspirational targes 3-4years out. Do you really blame them that things didn't pan out exactly as they forecasted for almost half a decade?
To their credit, they seem to be learning from their mistakes. No more purchasing AFSLs (only shifting advisors over), or share cafe style purchases. Garry has been very modest and measured in his spending to date, even though he has $30m to play with. If you haven't ask Garry a few questions as a shareholder, I highly recommend doing so. He's very receptive to anything that will produce shareholder returns.
If (as he wants) he's able to spend that to buy businesses at 4-5x PAT, you have 6-7m NPAT added - basically doubles the size of the biz to $14m PAT. With the already visible organic growth taking place, that should make 2026 targets achievable.
P.S. I don't know for sure, but it's entirely possible @@databoy may related (as a disgruntled former employee perhaps) to the crappy biz that is Share Cafe, given the timing and focus on SEQ. Could also be one that's not on the register anymore.
SEQ Price at posting:
57.0¢ Sentiment: Buy Disclosure: Held
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