I really am starting to think the Directors and Senior Management are running this business as a social enterprise where making a profit and return to shareholders is not their focus. Despite saying they will buy back another 10% they should have returned a far larger amount of the Telstra lotto win to shareholders 12 months ago rather than leave it in the bank to be slowly burned away by their inability to make a material profit. The strategy that they think they are so good at delivering is not delivering a profit. Their comments about a softening and inability to manage their labour resources doesnt bode well for anything but a deterioration in their numbers looking forward.
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