I'd make one further overall observation - which IG changes are "operational" and therefore will be recurring and which are "one-off" and a simply highlighting something.
As an example the lead off of savings of $500,000 per annum. The bulk of the savings come from the three main areas of director related costs, compliance costs and auditor related costs.
IG would have to do better than that - take audit - BDO (GGP's "orginal" auditor was merged into Grant Thornton, GGP "new" auditor). Grant Thornton charged(s) more - is IG suggesting appointment of new auditor. What would be the cost of switching?
Don't get me wrong, I remain supportive of IG, but that doesn't cut it for me.
GGP Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
