I did a back of envelope calculation of ebitda margins previously by geography and found the established Australian and NZ business had excellent and rising margins. The Asia Europe and U.S. businesses are all in different stages of growth. Us is like a start up just turning a profit, still high marketing and development costs. Will dig deeper and try and work out the fixed costs. Also don't have the numbers here so going by memory only sorry!
Oh and imagine announcement in near future of new ceo with vast international experience. Great catalyst for sp.
All those negatives may be positives as the bad news are pretty much baked into sp
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