Pretty much, market does quick calcs...strip goodwill and equity is 100mil and no divvy anymore. Net profit for the full year maybe 30mil?- they factor worst case but its not pesimistic either. Company losing sales and there is a threat of sydney cbd store closure. So 30mil npat x 7 at best gives 200-220 mil mkt cap. Thats 26c sp. no one gives a s**** about 3.2bil sales as they dont give return to shareholders. And with dropping sales including disastrous xmas everyone wonders how will operating cash flow will look like? Half of what it used to be? Too much uncertainty, thats what I try to say. I learned it the hard way too many times. But I am still watching how it will unfold.
p.s if they terminate lease for myer cbd store it would be a final nail to the coffin.
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