Ann: Financial Results for the Year Ended 30 June 2024, page-9

Over the past 5 years the board and senior management have been clueless. Their focus has been on expanding overseas and building new hospitals in Australia whilst the returns have kept decreasing - probably pandering to their egos to keep expanding at any cost to shareholders. All the while, they have had an arrogant attitude pretty much denying the mess they have got themselves into, blaming everything except their ineptitude. Even now they are just peddling the same crap they have been peddling for years their only solution is to spend a fortune on IT with a promise of a return on that investment years from now. By then, these systems will probably be obsolete and they will need to replace them again.

in my view they should have stopped expenditure on acquisitions and greenfield developments until the business stabilised. Haven’t heard a peep out of the new Chairman so I guess he is clueless as to how to get the business performing again. As for the CEO, he has been a total disaster with a single minded focus on acquisitions and expansion and the sooner he is gone the better.