Ann: Q1 FY20 Operations Update, page-5

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bennyjwills

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07/11/19

20:13

Post #: 41307223
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Originally posted by the_pav: ↑

A very smelly performance by a bunch of corporate clowns who still haven't learnt how to count up . Someone forgot to include the start-up costs in the contract price --Oops! Obviously the MD hasn't any idea how to run a contracting business otherwise they wouldn't keep coming up with the same old story. This has been going on for 10 years. You would think that they may have worked it out by now. The way Swick works is that the more work they get, the more money they lose. They now lack any credibility whatsoever after the capital raising at 23c. It looks like the only hope for shareholders is for someone to take the company over or recruit a chief executive and Board that has some history of corporate success behind them.

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Yes, I agree with the three comments here. It's really poor management and very frustrating after I put faith in them and took up $30k in the recent SPP. They have cost accountants and they knew full well the profit would be crap before the capital raise, bunch of crooks.

"the more money they make the more money they lose"

Too true...

I'll have to hold for now and pray for an improvement. But yeah, the last few years don't give me much confidence

Good luck all
Benny

SWK Price at posting: 19.5¢ Sentiment: Hold Disclosure: Held
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Ann: Q1 FY20 Operations Update, page-5

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