Announcement should be today. Prepare to be disappointed. Adding the quarterlies gives $103 million revenue, EBITDA $3.7 million for a net loss probably of a similar amount. Lots of write offs. More shareholder value destroyed. We've been told we've had improved margins for 3 years. Of course it will all be covid's fault, and nothing to do with a Board that has smashed the share price all by itself. This was once 37c a share and with revenue in excess of $100 million p/a in many of the intervening years, one wonders why the Board wasn't changed last year. They still haven't got the margins right. I'm sure they'll show glossy charts of the first half margins then the March quarter...but we were told the margins were to be 16-17% for many years prior to this. Not one of the quarters will approach this. Quarter on quarter comparisons with 2019 is not a basis for comparison. Nor is comparison of this year's 4 quarters showing the impact of covid in Q3. 16-17% is the benchmark for comparison and in every quarter the Board will fail again.
VRS Price at posting:
3.7¢ Sentiment: None Disclosure: Held
