nice work, numbers look good to me.
the high debt and potential for margin compression is keeping me away for now. there is a good entry point but its not yet as we are still in a downgrade cycle with no rewards in terms of synergies and minimal organic growth.
i guess low 2s would be attractive but the business remains fraught with further earnings downside risk for the near future. telstra, tpg and others are gearing up for a pricewar while small capital light resellers are going to compress margins in retail nbn broadband.
no thanks.
VOC Price at posting:
$2.75 Sentiment: Buy Disclosure: Held
