A market cap of $47.5M at time of writing and they have 5 FTE's in the SLT. Total salaries FY19 = $3.4M (not including the BOD - another $650K) and no flow overs from Marshall or Ingram. That's 7% of total market cap WTF!!!!!!!
Until they start reducing overheads, including closure of bricks and mortar that are not giving the ROI, TGA won't gain any momentum.
The Cashfirst business, if managed properly could have been a great money maker IMO, but, they decided to go after the unemployed and all they wrote were bad debts. The website was fantastic, quick and directly linked for credit decisions within seconds. Yet, they chose to go after the tough end of town which is those that have credit issues. WHY?? the market was big enough to share with the major banks who don't want to lend less than $5000... you have to shake your head.
I echo the sentiments of many, the SLT and BOD need to be changed in full and sooner rather than later.
RA
A market cap of $47.5M at time of writing and they have 5 FTE's...
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