What i liked about the result and SP response is that now that john is back as CEO some of the agents who left before have returned which is in contrast to the SP drop when it was announced john would return as CEO. Maybe those against John have departed the register by now. in any case after delivering this result and making the comments he did, combined with the benefit evident in a franchise model (lowers the downside risk of having high fixed costs in a lower sales environment) the fact that the SP did not tank was a very good thing and very much a contrast to his appointment announcement. I was watching the buy sell closely today and it looks like there were more buyers prepared to meet market rather than the other way round as has been the case recently. that said volumes were not high so the week ahead will tell. other companies have been hammered this reporting season for disappointing investors.
macro remains uncertain however so probably will bump down for every rate increase however once the RBA pauses it may be the time for that inflection up. they certainly have the capacity to handle much more listings.
MEA Price at posting:
39.0¢ Sentiment: Hold Disclosure: Held
