Stockspec - I take a complete opposite interpretation of the results and history you have hgihlighted: - "The thing that this company needs to do is stop empire building and get back to their daily knitting for a while. Adam Lamond should be ok in overseeing this as he knows the company well enough and for long enough.'' Far from it - Adam Lamond has several other business interests that arguably take up too much of his time (which the company is paying for). He is also overly focused on Aqura (WA contracting company focused on mining) as this is the territory he is familiar with. Left at the helm I would see further cost blow outs, vanity projects (CSR, RAP, Cycling) all at the expense of EBIT.
- ''It is easy to have short memories and focus on the last year but the margins of the surveying business has been 17.0% (2016), 14.1% (2017), 13.4% (2018) and 6.2% (2019).'' This highlights a continual erosion of margins whilst the revenue has increased, thereby making the result even worse.
TIme for change before the company runs itself into the ground.
VRS Price at posting:
5.7¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)