Since the attempted internal buyout of Noel Arnold Ltd a few months back, there has been some activity aimed at resolving the perceived management issues:
1. They are currently recruiting for a new group MD to replace the current MD Jeffrey Broun. The new MD will be based in the Eastern states.
2. Just today they have announced the appointment of Cameron Hunter to the board. He is General Manager of Noel Arnold Ltd.
3. They are also recruiting for a new board chairman and non-executive directors.
Despite the internal ructions and the GFC, the company continues to perform well; Q1 2010 revenue was $16.4m
I was initially drawn to invest because of the potential they have in servicing the growing complexity of environmental, energy and sustainability regulation in industry and commercial real estate. The group companies are well placed to service this from both the strategic planning/consulting and ongoing regulatory oversight perspectives.
Hopefully a new MD and chairman will re-invigorate the group in 2010 and result in continuing growth and an appreciating share price.
Since the attempted internal buyout of Noel Arnold Ltd a few...
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