Yes exactly Tenx that quarterly data unfortunately exposes the real issue with the company the profitability is not there. I note every graph is about gross commissions, listings etc. No graph on profitability...obviously.
It would be interesting if they could provide, in fact they should provide shareholders with further data that demonstrates when a level of economies of scale kick in, such as if we have so many agents averaging so many sales plus property management then the scale will provide a profitability of so many dollars or %.
How long will it take to get to these magic numbers if they exist? And if they honestly don't know what scale they need for profitability that would be incompetent.
The report also confirms the company received Government assistance by way of Jobkeeper and Cashflow Boost which have been included in the cashflow. Again if these extra incentives are included in that EBITDA on what is the third highest gross commission earnings for a quarter then that is also a concern. Those Government incentives are going to cease.
Will be interesting to watch going in to what looks like some tough economic conditions on the horizon.
Yes exactly Tenx that quarterly data unfortunately exposes the...
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