WTF Happened here? Guidance provided of $150M with 12.5% EBITDA mgn and an underlying EBITDA of $19.4M (see link below)
https://hotcopper.com.au/asx/st1/discussion/?post_view=0
What we got was every part of that guidance missed by a mile. This should have been reported earlier. The Board would have known that they were not going to reach this.
And going forward we are told that they will reach $122-$131M rev with an EBITDA of $8.5-$9.5 (an EBITDA mgn of 6-7%). The new strategy is forecasting less revenue at lower margins.
How is this smart?
Ann: Appendix 4E - Directors' Report and Financial Statements, page-13
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