So today someone asked me what I thought of iSelect and I read through their latest numbers: 1. Management refers to terrible numbers as “strong business growth” 2. Share buyback at average price of 1.68 current SP is 1.165. If they knew it was going to tank why not initiate buyback after the news comes out and the stock tanks? 3. They are still bound by the contact centre which adds a huge amount of cost, gen ys like me don’t like speaking to people 4. Initiatives to improve the business strike me as scattergun and not coordinated, a sign of jumpy management 5. Imoney looks interesting as a much bigger market, doubt it will be as profitable though- look at ICQ vs CAR 6. Underlying NPAT 2.804m carried through to full year equates to 47x earnings based on 265m cap Summary: Invest at your own peril!
ISU Price at posting:
$1.17 Sentiment: Sell Disclosure: Not Held
