Farcical. Excellent crop levels yet anemic profitability ... again. The situation makes a mockery of GNC being a "grain handler so not impacted by grain prices". Somehow, it manages to be impacted by grain prices as much as grain production.
Pathetic that the chairman stays after all this time and extended poor performance. More pathetic that shareholders voted for him. Perhaps some of them vote for him as payback for tip-offs about forthcoming poor profitability announcements ...
"Business transformation costs" and absolutely meaningless "underlying EBITDA and underlying NPAT". You continually strive to improve the operational efficiency of any business. That's normal operation. Coming up with this crap to put lipstick on the GNC profitability pig is apparently working in fooling 52% of shareholders ...
GNC Price at posting:
$6.96 Sentiment: None Disclosure: Held
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