Ann: FY18 Update, page-19

A picture is worth a thousand words as they say so I thought I'd pop up the following annotated chart:



Very prophetic of Dom to pick the top to sell.

But putting that aside, what's really telling is they continue to be less than honest with investors along the way - according to the company's very few announcements in the last 12 months the track division was stabilising...all the way until it was suddenly a 100% write-off.

Track was an expensive cornerstone of the business strategy which in the end has become a boat anchor tied around the company's neck. The only people who have made money from this expensive mistake are the Track vendors and JGB, oh and let's not forget Dominic received 1.25M performance rights for doing such a swell job in adding (negative) value to shareholder equity.

Ultimately though the person I am most upset with is myself for going against my better judgement and continuing to hold. As the previous poster stated leopards don't change their spots and imo the integrity of the company's communication is unchanged from the poor form exhibited during the Track acquisition days. The only reason I will hold this now is that against my now cynical view the debt will be paid off and the free cash flow will eventually surprise to the upside, returning some of the lost value to shareholder equity.

Cheers, Sharks