I won't repeat the speeches from the AGM as these are online.
'Mr Market' (often a grumpy, hard-marking chap) liked the forward projections (and perhaps the A$0.30 dividend) sending the shares up more than five per cent by 1023 AEDT.
The webcast should be available post-meeting but to summarise the sole SH question: with the hiving off of UMG, the company was said to be 'reactive' so what was the new second string to GNC's bow to reduce 'famine and feast' occurrences re GNC's operations and finances? The UMG Chairman was present.
The Chairman said that GNC was strengthening the core business, such as increasing storage capacity, but there were also key growth target areas - plans 'B to E'. There were many opportunities (M&A?) being viewed by the Board with hopefully more to say in FY 23.
GNC Price at posting:
$7.80 Sentiment: Hold Disclosure: Held
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(20min delay)