Ann: FY21 Trading Update & Earnings Guidance, page-18

joewolf, we haven't disagreed with you at all regarding control of credit facilities that UMG allows for customers.

While I've not worked in that specialised area, I too would think at face value that whoever was the senior manager in charge of credit ought have been shown the door very quickly with this $16 million bad debt.

Why didn't UMG insist when the debt was (say) $2 million that the account must be immediately brought 'into line' by the client? Many people in corporate Australia are allegedly sacked for far less.

Massive error and thinking about it overnight, most unimpressive.

Fairly or unfairly, it doesn't paint the MD/CEO in a particularly good light. Unfortunately, perceptions from instos. and minnow retail investors alike are if not everything, still very important.