As expected half year financials were disappointing. Revenue...

As expected half year financials were disappointing. Revenue getting crunched, and it seems IVC are not doing a very good job on expense control
Revenue down, but expenses roughly same resulted in underlying operating GP margins reducing from 24% to 19%.
Because of the capital raise, EPS took a real hit with operating EPS declining from $19.8c to just $9.2c

As I was warning, doing a capital raise without being able to generate a decent return on that capital raise will really impact on future EPS (and remember cost of debt is nearly nothing, so if the capital raise was used to pay down debt (as it was), then the benefit to the company is only the future savings on interest expense, and with interest rates so low, that savings is nearly nothing, and hence the capital raise is massively dilutionary on future EPS).


There is a good chance that shorters will increase their attack after these not unexpected set of disappointing results.

Lol that 5c dividend is not very tempting on a $10 share price.

Overall happy to continue to be on the sidelines and wait for my $8 or so share price target.