It was an interesting letter from MYR. They were picking at straws trying to say that they have better sales growth than a majority of PMV though, I thought. They have ups and downs, but PMV has grown, while MYR has not. One metric to look at would be EPS, with PMV increasing:
MYR:
FY14 40.9
FY15 40.4
FY16 38.7
FY17 38.1
PMV
FY14 47.0
FY15 56.5
FY16 66.3
FY17 66.8
PMV win on the ultimate scoreboard - PMV shares up 40% since 1 November 2014. MYR shares down -60% in the same period.
I don't think the MYR BOD have done themselves any favours with their "Strategy Update", especially the "We have evolved the metrics" page. They set targets, know they are going to miss them, so reduce the targets.
I currently don't hold shares in either MYR or PMV, but am watching with interest.
MYR Price at posting:
70.0¢ Sentiment: None Disclosure: Not Held
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