re: Ann: Star Sold for $1.7 million. Profit U... What a...

re: Ann: Star Sold for $1.7 million. Profit U... What a joke,
buying a company less than two years ago for 3.45 mill,
selling it now for 1.7 mill after it has been written off fully last financial year and claiming that it will contribute to a profit after tax upgrade this year.
Further to the name change back to jumbo.
Do we really want to revisit the past with jumbo mall etc.
Established brand awareness can be negative as well.
To me it sounds more like a clumsy elephant than a mature
business with a consistent line of approach.
Acquiring manaccom was in my opinion a good deal, but instead of continuing with the profitable line of software, Mark had to change it to mcaffee, with the subsequent necessity for the business to be restructured, incurring losses along the way.
This announcement is very thin on the progress of the restructuring of the software division but by looking at today's numbers it's most likely that it will not contribute
in any way to the underlying profit.
Comments are invited.
Cheers