Ann: Ardent Leisure Group Half Year Financial Res, page-36

re: Ann: Ardent Leisure Group Half Year Finan... Rooty Hill is not a constant centre North Boy. FY 30 June 11 was the first year it was opened.

Agree with you about Directors asking for a pay rise when profits are droping- doesn't seem right.

However, Ardent is a consumer discretionary stock- and stockholders only have themselves to blame in my opinion if they held (then) Macquarie Leisure when the share price was at its peak- whilst the GFC was unfolding. All the management team can do is adapt to the situation of consumers chosing not to spend, and Ardent's management have done so by maintaining high margins.

So what you should be saying is you've lost faith in the sector Ardent is in, rather than the managemntt team in my opinion. Right now Ardent is trading on dividend yield of around 10.5% (as oppose to the GFC days when it was trading on a yield of around 5%), so value proposition is different now.