1. A board (bored?) with zero vision that has done absolutely nothing (*see point 2) in the 5 years since they took control, apart from sitting in the grandstand and loudly applauding what Garry Chapman was doing with the UK billing company, which he would have done anyway without this "bored". So many opportunities lost to leverage the steady rise of the UK business, not just in UK but throughout EU. Compare with how Ramsay HC has leveraged its model in UK and EU.
2. The board actually did make one decision, and what a cracker that's been - to invest $250k for a miniscule stake in an unlisted startup, Open Learning, in an extremely crowded education space already dominated by multiple global gorillas, with no explanation of how the investment may ever benefit shareholders, and no possibility of ever realising any upside if there was one, as no shares to sell being unlisted. Outstanding!!
I read somewhere on these threads that one shareholder thinks ICS is the next blue chip. That's the sort of optimism we need. Tip: look at progress over past 5 years, in real $ terms not confusing and misleading % KPIs. That's easy because there's only one little business unit in the empire. It makes around $1m pa, after buying the business 8 years ago when it was already making over $500k pa. Outstanding!
ICS Price at posting:
$1.40 Sentiment: Sell Disclosure: Held
