I just cant understand how this business' performance can be so...

I just cant understand how this business' performance can be so bad when they have such a large level of revenue.
The freight costs went down, which was their issue a year ago and now that they are below pre covid levels it iis the inflationary pressures.

Surely all new contracts have cost of good increases built in. Freight is down. Demand is high. Market cap is tiny.
Management continue to talk things down.
It makes me suspicious of how well management are controlling expenditure. Unfortunately not being Australian based makes it harder for us to monitor.

I hope PKF are doing the required job when auditing.