Firstly there's another thread about the buyback. Posters have...

Firstly there's another thread about the buyback. Posters have raised the buyback which appears to have stalled even at the current price. The thing worth noting is that the company hasn't released a progress announcement since the 20th of June so we either haven't been buying back or the company doesn't feel like informing shareholders. Either way it's a pretty poor display of how shareholders are being treated so I share the posters' concern.
Then there is the absolutely terrible share price. This is giving me real cause for concern. If a company has over $200 million of work in the pipeline, and has $17 million in the bank and an MC of $23 million you really have to ask if something is going horribly wrong behind the scenes. The first half profit was miniscule and we've been told for years as others have posted, that we are improving margins. Well that hasn't worked so far so I wonder if we are about to announce a loss for the half and a FY loss to boot. This raises the issue of the competency of the Board and Management. if they can't make a substantial profit from $100 million revenue then they are failing to deliver for shareholders. Repetition of last years dividend isn't going to pacify shareholders given we were once 37c and we've had at least 7 years of rhetoric about the move to higher margin work as Stonkholder rightfully states.
So what is going wrong VRS????? And don't say all is fine...blah blah blah because a 4.7c share price is certainly not fine. Nor will the mere mention of a repeat dividend pacify shareholders when they deserve to be treated better. Treated better means better outcomes especially where the bottom line (net profit) is concerned, it means better communication to shareholders when by anyone's measure the current share price is unacceptable, and lastly but importantly, being transparent about where all the money is going when we have repeatedly been receiving $100 million p.a. revenue and the bottom line isn't worth mentioning. Even if something good is around the corner, the current treatment of shareholders is a major failing.