Everyone claims that he or she is an expert on the resignation of the CEO and ignore GXL facts.
The facts
On Tuesday 11/8/15 Greencross announced it had returned to profit in the year to June 30, with after tax earnings of $19.1 million on revenue of $644.5 million.
This compares with a loss of $127.8 million in 2014, due to a one-off impairment charge of $130 million, stemming from its 2013 merger with Mammoth Pet.
"It makes our step-up look huge but we're trying to say, "look we can't claim a $150 million improvement in profit but what we can show you is underlying results", chief financial officer Martin Nicholas said.
"I don't call it a turnaround, I call it a great year of results."
The company will pay a dividend of 9¢ per share on September 18.
Read more: http://www.smh.com.au/business/the-economy/australians-love-for-pets-good-news-for-greencross-20150810-giw5om.html#ixzz3k1LqlDAn
GXL has scale and high future growth. The results proved most of the brokers wrong.
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