Probably worth declaring that sold out of my holding in recent weeks at an overall small gain.
This is a poor result that also does nothing to dispel the rumours.
I notice mention of UK recruitment as well which isn’t clarified in the report. It could be trying to recruit lawyers to emigrate (and then usually be locked into Shine for years). It could be something else.
In any case, the cashflow hit doesn’t look good and the WIP keeps building. The divvi is now worse than simply holding cash in savings.
Good luck to all but short of a sizeable rerate down (which I don’t wish on any of you), I likely won’t return.
Ann: FY23 Half Year Results Investor Presentation, page-2
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