Well it is a scandal in their smallest division, which is 20% or so of the business. Weather is a reasonable excuse for the rest, and they already said q1 was terrible, and IMO were hinting at the lower end of guidance.
They hinted in the last update there might be some goodies coming - is this what we get - lol? from 3rd Nov "Downer has a portfolio of outstanding assets. We believe the value of these businesses is not fully reflected in our current share price. We will explore strategies to realise this value for our shareholders, and we will target making further comment during 2023." There are some parts of the business I would like to be a shareholder of, the bits involved in electrification and wind energy especially. There could be some brilliant spin offs.
Yeah - there will need to be examination of the CFO as well as CEO, but there is nothing to suggest they were involved. More likely a divisional issue IMO. Might be some ramifications for the accountants, but depends on whether they were competent and mislead or incompetent and mislead.
All IMO.
DOW Price at posting:
$3.69 Sentiment: Buy Disclosure: Held
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