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09:17
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Originally posted by Willbo
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Hi guys I’ve spoken to Wayne about the last 4cWith June -December 2017 will that be Fy2017 or will that be a one off?and there be no 1hFy2018 Until July 2018? As we moved from financial to calendar reporting (predominately to make our financials more digestible to US funds, we had to close out half year 2017 (June to December) and overlap that with the financial year. As of now we are on calendar year and so the reporting (1st HALF) will be reflected as you have stated in July 2018. Not to be a martyr about it but our staff costs are still relatively low considering the size of the undertaking (we need perspective here as I am a fiscal conservative generally). We still have less heads than we need which means a lot of the team is still (happily) putting in many more hours than they signed up for. The costs however do reflect new staff, some close out costs (termination obligations ) , and 2017 bonuses. I appreciate a lot of our shareholders struggle with the issue of bonuses , but they are a necessary part of the global healthcare business(and we are contractually obligated to pay them) - and an important aspect of the reward system (and retention process where needed). Although the share price is vexing to say the least , the actual company performance was very good during 2017 (profit up , costs down, revenues up) and as such in most case is well deserved. Keeping in mind we cant run the company without great people - this in turn will drive the share price. The bonus structure is performance based (as such some people didnt earn theirs) but for the most part the company did perform well against its targets. I think for the moment we are at critical mass however as every 1 of our team = 3 of the competitors ! I expect that if one or both of these come through I will adjust the guidance upwards. I believe there may be some initial orders to some markets from next month. Agree- on face value its a decent step up , but the variables that come into play include new reps coming from very specific backgrounds (we couldn’t attract this type of rep 18 months ago), implementation of an industry leading campaign, increasing publications and data , improved company image and credibility (driven by data as well as TAVR which is giving us much better profile in the big institutions). There are always known knowns, and known unknowns, (which we have factored in). Portfolio expansion will also play a role later in the year as well.We will hit the target. Any news on the tenders for infusions side of the business we Quoted? No news yet - we are in play but the cycles are proving to be very long with regards to decision making at the hospital level. I am confident the team will succeed in areas where we can compete. Yes
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Thanks willbo - good questions and answers
