Results

PUM looks ok given the shrunken network and agent numbers down by 10%.

Disappointing that they missed their late January earnings guidance...particularly given the period had already closed!! No wonder they have written down their IT spend. And/or management are just incompetent. I think they guided 1.5m EBITDA pro-forma but now it's a loss of 0.1?

I don't know how many good agents they have lost but I would hope the 1.5m spend on 'McGrath Futures' is a wise investment for the future and turns the company owned office segment around.