I too am a long time holder, but have fortunately lessened my position at no loss over the past 18 months since the capital raise. To me the timing of the report is somewhat irrelevant but my memory is that until and including 2017 they reported before opening and in the second week of August.
Unfortunately I think a hefty drop will occur on Monday and my loyalty will be rewarded with a big loss. It is going to take something more positive to turn things around and for me there is nothing there to draw on. As a comparison Capital Health (CAJ) is sitting at @$0.22 after NPAT of $23m and EPS of $0.04. The reason is that they now have history of disappointing the market and Paragon have now joined them.
The acquisitions that were bought from the capital raising have clearly not delivered other than possibly the vision line. REM was sold to us as a certain 8-10% growth and it is quite clear that it was no where near this and the outlook is not indicating much improvement in fact my read is that they are downgrading this growth.
As I said earlier they are basing a "rosy" outlook on cost savings and not growth. My expectations were / are based on past comms is that the costs should already have been eradicated (they've had >12 months) so my suspicion is that they have little control over the merged entities who after receiving their cash have little incentive to reduce their "family" of employees.
Management has a lot to answer for IMO. I know I still wouldn't have my job if that was what I was putting on my 2019 resume.
PGC Price at posting:
46.5¢ Sentiment: Sell Disclosure: Held
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