I read that in conjunction with the first sentence and it appears to be that the company is saying that PCSIL is a lost cause because the regulatory burden being imposed means that...err...people are no longer looking to utilise their services and the ones that are cost too much to comply. That obvious fact was why that business line was going to go kaboom once it was more heavily regulated. I'm pretty sure I pointed this fact out when the CBI started sniffing around a few years ago...You can connect the dots on what the average customer was using the service for.
I read the announcement as...
1. They are going to operate only the profitable business lines "refocusing on core" as they call it.
2. PSCIL is not profitable nor will it be over the medium term and therefore is not core.
3. PSCIL is not long for this world.
I cannot understand the price action yesterday.
Ann: Trading and Strategic Review Update, page-86
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Last
70.5¢ |
Change
-0.025(3.42%) |
Mkt cap ! $273.8M | |||
| Open | High | Low | Value | Volume |
| 71.5¢ | 71.5¢ | 69.5¢ | $201.0K | 285.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 7291 | 70.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 71.0¢ | 17932 | 5 |
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| Last trade - 10.12am 09/09/2024 (20 minute delay) ? |
| EML (ASX) Chart |