The 25th November presentation trumpeted improved margins from 6.2% (EBITDA) to 9.9%. So it depends on how you look at it. 9.9% compared with a dismal past or compared with a targeted 16-17%. I see 9.9% as another dismal past when viewed against what they targeted and what the company needs. I read the 9.9% and the large number of votes against some board members as 'they are on notice'. If we don't get double figures in the half yearly, and there is another attempt to gain control, I'll support the new parties and will be voting for change. The half yearly is done and dusted, just awaiting the report.
VRS Price at posting:
6.5¢ Sentiment: None Disclosure: Held
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