Firstly, I have been meaning to offer HC readers some context around the recent AGM presentation to shareholders, I will do that now to provide further business insight (albeit from a personal perspective)
As far as my history, I was there for over 20 years and served as GM of Ezystrut for over 15 years. Under my leadership, we opened offices across Australia and NZ, and established the first overseas Manufacturing in India during the late 90’s followed by China around 2000 to complement local production (as well as basically being involved in growing every aspect of the business from sub 2.0m revenue at the beginning).
Some may suggest that I know a little about this business.
Earnings were somewhat suppressed through the 90’s and early part of 2000 as we continued to pour money back into the business to fund the expansion, you became a shareholder at the time when most of the major business infrastructure was in place and hence the accelerated earnings. Remember though, our mandate was always profitable growth, and that's exactly what you got.
Yes I could list all of the immediate strategic and tactical actions for the business, however this is not the forum, and in any case, provides no basis for a meaningful outcome.
In my view, Korvest is close to the point where it needs to either be privatised or rolled up into a complementing entity.
Be careful about building your shareholder position, I still think these seemingly cheap shares will continue to get cheaper.
