Disappointing result to be honest.
The revenue lag they flagged at the end of Fy23 dropping into 1H24 was suppose to be ~$7m, so basically it was a flat period of growth if we strip that out.
The impairment of Banner Oak is a worry and also the magnitude of it, didn't see that coming.
Hopefully they pump the brakes on acquisitions and focus on capital management strategies, a share buyback or M&A is needed for this stock, especially given no franking credits left.
The debt deal they did with soul patts is ridiculous, basically paying 9%.
Hopefully the new board members and new chairmen can breath fresh life into this business
Ann: Appendix 4D and Condensed Interim Financial Report, page-3
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Last
$11.00 |
Change
0.300(2.80%) |
Mkt cap ! $574.1M | |||
| Open | High | Low | Value | Volume |
| $10.90 | $11.31 | $10.75 | $6.456M | 584.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 339 | $10.99 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $11.22 | 5000 | 1 |
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| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| PAC (ASX) Chart |