Agree completely that the CEO is inept having listened to a number of CCX calls. He's seems more concerned with coming across as a jovial friend rather than an astute leader.
The reference to 'trading profitably' in 2H24 is simply misleading and should be sanctioned by the ASX. Positive EBITDA is not trading profitably.
Interest, depreciation and amortisation are real business costs. In 1H24 there is $6m of Depreciation of Rights of Use assets alone - representing lease payments ie. real cash that the business must pay out. To illustrate this point, one only has to look at Free Cashflow in 1H24, it was negative $22m. It would take a monumental turnaround in 2H24 to be Free Cashflow positive, and that is a better indicator of 'trading profitably'.
Also agree that the reduction in revenue is alarming despite slightly higher margins. It's great to implement cost savings, but that can only take you so far. It's revenue growth that's needed for sustainable earnings growth.
I doubt the CEO will see out the year.
Agree completely that the CEO is inept having listened to a...
Add CCX (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
29.5¢ |
Change
-0.015(4.84%) |
Mkt cap ! $68.41M | |||
| Open | High | Low | Value | Volume |
| 31.0¢ | 31.5¢ | 28.0¢ | $908.1K | 3.070M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 37128 | 29.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 29.5¢ | 54893 | 3 |
View Market Depth
| Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
|
|||||
|
Last
29.5¢ |
Change
-0.015 ( 6.35 %) |
||||
| Open | High | Low | Volume | ||
| 31.0¢ | 31.5¢ | 28.5¢ | 353505 | ||
| Last updated 15.58pm 24/05/2024 ? | |||||
| CCX (ASX) Chart |