Geez Mik, for a non-holder you are a bitter and twisted old...

Geez Mik, for a non-holder you are a bitter and twisted old misery guts…

The reality is this new management team has performed miracles given the train wreck left by previous financial management and cronies. To engineer a $16m turnaround at the PBT line in two years, have delivered a net cash balance sheet having paid off all CBA debt, against the backdrop of covid, is nothing short of superhuman given the parlous state it was left in…..and I’d like some of what you’re smoking if you think survey firms should be making 20% PBT margins…. the likes of Downer, Lycopodium, Emeco, or even the large engineering/ professional consultancies could only dream of those sorts of margins - so how you think a small survey company like Veris should be able to generate them is beyond my basic comprehension..??

If it wasn’t for this new team, the shareholders would be rightfully grumbling about the administrators and receivers fees being paid out of the carcass. Now we have a net cash balance sheet (in a rising interest rate environment), strong pipeline, momentum in performance and a competitive difference in being the only real national player in the space.

I hear some of their competitors are struggling to keep pace with the technology offerings and have put themselves up for sale… perhaps the heat in the kitchen is becoming a bit too much?? Either way, Veris seem pretty strongly positioned to continue their journey, so keep sledging them because the more you keep criticising the more traction they seem to get on the turnaround!