Well the acquisition shrinkage from 10% to 10% down is no surprise to me, but differs dramatically from what we were guided to in Aug. Are capital constraints impacting hospitality, or is it the market, or a bit of each. Pres doesn't make this clear. And have staffing levels and overhead levels been right sized for this, or are we in for some one offs at the next results? Anybody hear any comments at the AGM?
The liquidation of GG looks like it is going well, but it is hard to know how much in the way of costs is being cross subsidised by hospitality, unless there have been major retrenchments I have not heard about, and closures of leased premises? I suspect these kinds of costs are not being included, or are yet to happen.
Ann: SIV AGM CEO Presentation 29 November 2018, page-2
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