Perhaps "camouflage" wasn't the best choice of word, but that is my opinion. Lack of transparency regarding acquisitions, dates, cost, licensed numbers,EBIT and the fact that the last settlement announcement regarding acquisitions to the market (although sparse with detail) was on 2/6/15. Details of acquisitions are non existent apart from a few lines in the financials. The picture IMO is never quite complete with G8.
The December 2015 accounts reported "Like for Like" occupancy, with a small footnote stating it was "peak occupancy" which would have been Melbourne Cup Day, which is the busiest day in any centre. The following six months accounts provided no detail regarding occupancy.
Revenue, again a more detailed breakdown would be beneficial. Revenue: fees from parents, ccb, ccr, trainees funding and inclusion support funding. We know the other funding received, preschool, professional development, fees in advance from parents and enrolment fees from the government, more detail would be welcomed.
There are avenues available, that with regular monitoring you can track acquisitions, even to do that monthly would be beneficial.
IMO Gary Carroll knows the challenges ahead of him, he will be relying heavily on the input of others regarding solving the occupancy issues. No one on either the board or management team have any qualifications or experience in early childhood education care. Let's hope that's addressed soon.
Transversal, I enjoy reading your posts and look forward to further discussions with you.
Islay (incessant poster by JH)
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