Koro you are correct in calling for management changes - desperately needed.
You selectively quote an improvement between 5th May May and end of June, but fail to address this clause in the self same announcment
"At the 1H FY25 results announcement, the Group revised its FY25 financial targets to revenue of between $137m
and $147m and EBITDA of between $8m and $12m. Due to the volatile market conditions in the USA and trading
for the first 18 weeks of 2H FY25, as things stand the Group is now targeting the lower end of this range."
Hey, the actual results (just short of an extra two trading months) weren't just at "the lower end of this range", they were an outright FAIL
Revenue was some $3m short of the lower end and EBITDA (which is more important to us as investors) was a whopping miss. They suggested lower end of $8m, yet it is likely to be between $6 and $6.5m - a massive miss and frankly it smacks of miss firing on their costs reset program. But also the lower margin achieved in 2H has something to do with this.
Good luck. I've drawn my line in the sand. I gave them an extra year at end of FY24 to turn it around, and it isn't happening. Just more hocus pocus in their reporting.
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Koro you are correct in calling for management changes -...
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