Their foray into the Home Appliance sector was and is an unmitigated disaster undertaken by the Board purely for the sake of being seen to do something. As I posted at the time, management had absolutely no experience in that market sector and would come to regret the day they made the purchase.
To have made no mention of that division in their AGM speeches really does just demonstrate the contempt with which the Board treats shareholders. As owners of the company we have every right to know what is happening in that division.
The fact they chose to omit any information indicates (a) the performance is nothing to boast about and (b) they have chosen to cherry pick what they want shareholders to know. Begs the question as to what else they have not told us!
MCP Price at posting:
93.0¢ Sentiment: Sell Disclosure: Held
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