This looks like a poor update .... 1) Lack of operating leverage in the business ie ref FY18 forecast for Patient fee growth of 10-15% and only EBITDA growth of +10%, 2) Fees retained by dentists (difference between Patient Fees & Reported revenues) appear to being squeezed, falling from 38.4% in Fy14 to FY17F of ~37.5% ... this can't be sustainable in a professional services business can it?? and 3) Patient fees/centre have fallen each year from ~$2.8m in FY13 to the company's own expectation for FY17F of $1.97m and lower again in FY18F.
Ann: Trading Update Announcement and Presentation, page-2
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Last
$1.87 |
Change
0.110(6.27%) |
Mkt cap ! $297.6M | |||
| Open | High | Low | Value | Volume |
| $1.85 | $1.87 | $1.85 | $991.2K | 533.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5686 | $1.87 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.87 | 78415 | 6 |
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| PSQ (ASX) Chart |