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clock Created with Sketch. 18/06/24
10:07
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Originally posted by Azimut86s:
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I know Booktopia intimately, and I can say that neither Amazon nor (the lack of) overseas book buying had anything to do with Booktopia's demise. Nor did the lack of direct sales of education books. In FY21 Booktopia delivered $12.8m in EBITDA. Amazon was already operating in Australia and Booktopia was receiving weekly airfreight consignments from the USA and UK. It was operating smoothly and profitably. How do you think it made $12.8m?
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Thanks for your insights. Interesting to go back to announcements in 2021 to get a sense of the environment and management strategy/forecasting. Tone was very bullish, mistook Covid "splurge" for sustainable long-term, and spent up big. Amazing how fast things changed for BKG, and ultimately "pride comes before a fall" seems to apply.
(20min delay)