Revenue increased overall, but NPAT fell, which the company ascribes to its four year transformation program.
Other companies such as BGA that have similar multi-year programs are in different sectors, but manage quite impressive results, unlike QIP.
The Sortify business may be very good in time for QIP, but the fall in legal/litigation revenue was uninspiring and perhaps worrying.
Prominence given on page 10 to such matters as 'membership of the Diversity Council of Australia' is a red flag. These types of organisations don't promote individuals' progress on merit. To use that too frequently employed USA word, they're 'woke' and some would argue almost Marxist in the way they operate.
The dividend is up marginally from A$0.034 to A$0.035 but is this justified?
The company failed to keep expenses such as travel under control. Odd when one considers that states like Victoria and NSW were locked down for some of FY 22.
