Another dud by Ashok and David Niall what a surprise. Don’t worry he will be able to turn around all our loss-making low occupancy genius centres we paid overs for and will be able to buy them back as a great ‘pipeline’ what a joke. Zero chance of either happening.
EBITDA of $5.8 is deplorable for a company our size now and they fail to mention how much comes from precious cargo for which they got what 4 full months at peak time from? Noting that our initial guidance didn’t include precious cargo in it.
Our occupancy was 61.8% down 5.6%!!!!!! This is the worst run listed childcare provider on the ASX.
Quite literally everything Riversdale said would happen has happened. I hope they’ve been buying at these levels.
These goons have had ‘years’ to turn it around and prove they were better and they have done nothing but line the genius pockets and destroy all shareholder value in the process. But look on the bright side staff engagement and family satisfaction (the limited families in any of the centres) are improved….
MFD Price at posting:
40.0¢ Sentiment: None Disclosure: Held
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