2023 General, news, etc, page-53

I am the wrong person to ask for my thoughts, because I believe that Management's duty is to run the business well, rather than talking up the SP, especially if it declines because of mood swings, stupidity and lemming-like behaviour. Management should communicate facts, which it has done.

Thanks to Management's communications we know: FY23 revenue is expected to be between $2.6B to $2.7B; EBITDA guidance for FY23 is between $162M and $172M; work secured for FY23 is approximately $2.6B; the order book is $4.9B; the pipeline is $19.3; submitted tenders are valued at $4.1B; labour availability is manageable; risk sharing contract structures and rise and fall adjustments are now standard practice; and many other things.

Further, why should Management care if shares change hands - Management's loyalty should be biased towards those that hold or buy NWH shares, not those exiting the register. Those who are accumulating should be pleased that the SP is low.

All that I want from management is a better long-term profit margin translating to a higher EPS paying a circa 50% dividend. The SP can then take its cue from that. All that I would tell shareholders if I were Management is, read the Announcements, and cogitate the significance of what has been stated.