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MasterGogo

189 Posts.

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27/06/22

16:53

Post #: 62232007
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Originally posted by LifeUniEvery42: ↑

The Trading Update on 6th May stated
'Slower than expected sales occurred in the first four months of calendar 2022 due to a change in marketing approach and lower promotional activity. This approach was corrected in mid April and an enhanced marketing and promotional schedule has been implemented.'

What was the 'change in marketing approach' ?
It seems crazy that management would tinker with product channel promotions/ sales strategy post Covid, with chip shortages (and the onset of Ukraine war).

Directors/Senior Officers buying shares early June ~28c was a positive sign from them.
Awards at the Vegas NAB were also a positive
Revenue - 1st half of FY22 $40m and now 2nd half also ~$40m (Tot $80m down from $95m target), albeit with lower margins.
It really would be more reassuring if management was more transparent and forthcoming (in the media) with what is happening especially after sudden departure of CEO after a very short tenure.
GLTA SH

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AMS Price at posting: 21.5¢ Sentiment: Hold Disclosure: Held
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