@jord@n you need to look past the oily sheen. This is a shocker. FD says sell, sell, sell.
- Core mobile business is clearly under intense pressure. eg this “small but mighty” (LOL) $10 plan, plainly the mobile market is crazy competitive and AYS has to lower prices (and hence also GP) to win business
- Mobile net revenue was down 7% due to a reduction in Mobile ARPU. Given mobile subscribers were up 10% over the half, that means Mobile ARPU has fallen further. So ARPU and GP margins are BOTH falling
- They have major supplier risk with Optus
- Way overpaid for Click. They paid about $800 per user with average contract terms of less than a year! Laughably overpriced.
- CEO sold all his shares in June 2017
- Founding director Rolf Hansen left in Nov 2017
- Salesy CEO, and I've sure seen better CFOs [won't say any more, not keen to be sued for defo...]
- High debt - $96m total and net of $78m
- History of missing guidance
Oh and they put out a 1H 18 trading update in Feb? Uh, okay then
I could go on
