only so long you can hide that RED ink...it was literally ALL OVER THE FINANCIALS (the below is for
@heedlesspage since he enjoys my highlights so much
)
I fail to understand how the mkts and peeps cant comprehend that the avg fum this year will be a pale shade of the former ~$94bn, not even FY23's ~$49bn, but more like mid ~$30bn at best.....the ripple affect to mngt fee revenue etc will be massive....
The cash injection gave this an artificial market high devoid of any fundamentals which are
CLEAR...bleeding clients at a rate of knots and mngt fee (the core of this business) will slide dramatically over FY24 and FY25 mandating shrinkage in their largest cost base, headcount....!
lets not forget the "successful
" Barrenjoey! Associate investments delivered a
post-tax loss of -$11.5 million (~1/3), so runs at about
$50m annual
LOSS (100%,
pre-tax benefit)....
at least they have a decent $$cash$$ balance, can artificially prop them up a few more times...!
(20min delay)