PNV

0.78%

$2.58 polynovo limited

Ann: 1H FY22 Results Presentation, page-366

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Bill Gates

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28/02/22

08:50

Post #: 59860370
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Originally posted by stockrock ↑

as an investor I can only guess just like everyone else why corp and admin jumped 60%+ half on half.

whatever caused that increase is likely either within management control or something they could forecast with reasonable accuracy.

sales staff growth was in line with sales, that’s not the issue. But any business that has either approved a budget where corp and admin costs grow 60%+ is being very aggressive, or if they didn’t and it blew out to that much then their internal forecasting / management were not doing their job very well.

so many investors here love that management are being aggressive and are fine with costs growing 50%, outpacing sales even with such low cash reserves. I am not one of those, investors. It doesn’t feel like they have control over their costs and it may have to do with a very aggressive Chairman that displaced a very conservative CEO and now the business has somewhat lost its balance.

but nobody can argue that if for whatever reason if sales don’t perform as well as they need to, keep in mind they need to do much much better than it has been just to keep up with the new increased cost base, then it will need new funding or new debt or another source of cash. That additional risk is now heightened because of management action and that is a risk that some existing and new investors may not be comfortable with, especially if this is how they intend to run the business going forward.

because even if they get it right this time, there will be a day when things don’t work out as well as they hoped and they will be scrambling for solutions that usually don’t end up well for shareholders.

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I'm only here to express my views, not to convince anyone. We are all free to follow our own ideas and I wouldn't have it any other way.

We are a company in the early growth stages. Present actions are not set in stone mantra style for the future. IMO they saw this as an opportune time to push down on the accelerator in a manner that so far is working and has shown itself to be successfully repeatable, that's all, and I'm happy with that.I'm not accumulating for any other reason atm.

Managers are tinkering with companies all of the time as things change and some opportunities come and some go. That's normal management is it not? Anyhow, I'm happy to see where this leads us holders and some are not. That's normal human distribution behaviour too.

Good fortune all.

PNV Price at posting: $1.02 Sentiment: Buy Disclosure: Held
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Last $2.58		Change 0.020(0.78%)		Mkt cap ! $1.780B

Open	High	Low	Value	Volume
$2.61	$2.63	$2.56	$2.465M	952.5K

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No.	Vol.	Price($)
3	10700	$2.57

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Price($)	Vol.	No.
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