If you check in the expense report for the half year. PRN incurred $18.8M in consulting fees over 6 months. At a guess probably 30-50% is attributed to merger and a one-off hit. DDL aquisition costs was $5.8M and expensed as other expenses, post the merger.
Merger benefits on the cost side are estimated to be OPEX savings of $22M YOY.
- HR and Pay-role consolidation.
- Finance, Risk / Support team rationalisation.
- IT stack consolidation.
- DDL bad debt written-off a one-off item.
- Site rationalisation.
- Sales team rationalisation / reduced competition in the market-place.
Punchline... well need to wait until September reporting season to see merger benefits.
If you check in the expense report for the half year. PRN...
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