Ann: Q2 FY20 Sales Activity Update, page-6

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funnybeans

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20/01/20

11:23

Post #: 42469177
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Originally posted by funnybeans: ↑

While I think this board are getting some mighty hefty remunerations for a company at this market cap that should be doing it's best to rebrand and turn a new management leaf ($1M comp...? wow), I agree to your point despite slight bump in FY19 revenue, seeing actual GP drop was disheartening (COGS/sales ratio increased from 48% to 55%).

But, this ann indicates more than a 'slight bump' in FY20 revenue. IF they maintain or take on even higher (but surely diminishing) COGS/Sales, and with admin costs growth (which shrunk last FY considerably), we are in super positive profit territory. Especially without $2M impairments from Texas on a $3M FY loss.Will look forward to profit report with you, but all up I reckon RDF looking slimmer than ever as a well-oiled pipeline machine.

Debt-less and cash-heavy, this one of the best sleepers in my portfolio after today's ann.

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Just to add because I forgot, the rise in COGS/Sales and admin cost shrinkage was due to reclassification of expenditure from admin to COGS. FY19 Note 2.4.

But I maintain my point: costs went up last FY and even if they continued to go up per sales basis, we gonna be in sizeable profit this FY.

RDF Price at posting: 53.0¢ Sentiment: Buy Disclosure: Held
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Ann: Q2 FY20 Sales Activity Update, page-6

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