Fair bit of scaremongering in that. Hard to know where to begin.
"The continuing business is performing at or above expectations and expected to generate revenues of approximately $240m and EBITDA of $28m in FY19 (including the $4m benefit from lease adjustment)"
Price in my view already reflects the reduction in revenues and EBITDA. The synergies of combining that many businesses were never going to be immediately reflected, these will become apparent over the next few quarters in my view. I view the update reasonably positively and will be topping up today and ongoing at these levels.
Also, there is little or no chance a takeover succeeds at 60-70c either IMO.
all IMO, DYOR etc...
Ann: Company Update & Earnings Outlook, page-9
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