Agree, that must be the shortest FLC update I've listened to!I...

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29/07/22

10:18

Post #: 62801746
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Originally posted by mrinvest05: ↑

Very, very subdued quarterly update. Strange that Richard Irving wasn't in attendance either. A couple of points but tbh it wasn't much of a listen!!

- 80% of SPS revenue in Q2 was outside china
- Tom has toured the company and offices since his appointment and made mention he thinks we can reduce our fixed costs even further, and improve corporate structure with a meeting in August to discuss that (no detail on this though)
- Re-affirm guidance of $144mill full year income and $45mill SPS.
- Question on North American progress. Tom made a comment that they have had to improve production capabilities to fit into the North American requirements but tracking along so far.
- Caribbean question about talk of significant pipeline here for quite a while but nothing really has eventuated to date. Tom made mention he expects significant impacts very soon here.

Over and out

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Agree, that must be the shortest FLC update I've listened to!
I suppose Tom is settling in and not wanting to rock the boat, just yet & seems to be a bottom-line kinda guy talking of further overhead reductions/ operational/ supply-chain efficiencies across FLC.
The NA Market -North American rules about US production - "FLC have to improve their production capabilities in NA to fit in to that area"
China - still producing, but Covid disruptions continue with Shanghai open & Beijing now shut down
Italy asset still for sale, but excluded from FLC P&L still looking for a buyer.

FLC Price at posting: 22.0¢ Sentiment: Hold Disclosure: Held
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