PS - I just had another look - their revenue was $2 bill a couple of years ago - it’s worse than I thought - running around $1.75 bill now.
To put that in perspective BIG is close to $100 mill now and growing at break neck speed - do you see the issue people?
That advertising revenue has been dropping a 10-15% pa for as long as I can remember now - but this last half net profit dropped more than revenue (even with all the endless cost cutting).
I don’t now how much longer they can carry on, I am surprised they have gone as long as they have (once you realise the vast majority of that revenue is print) - it will hit escape velocity at some point I reckon when advertisers start to collectively wake up that the game is up...
BIG Price at posting:
$2.22 Sentiment: Buy Disclosure: Held
