Forecast for Year Ending 30th September • Licence Fees up 14% on FY08* (approximate) • Total Revenue up 14% on FY08 (approximate) • Total Expenses up 19% on FY08 (approximate) • R&D investment up 20% on FY08 (approximate) • Profit down 6% to 12% on FY08
Once again, management's inability to control cost has resulted in revenue up BUT expenses going up even more! In a difficult year, higher revenue is to be acknowledged as a great result but at the same time, it should be much easier to manage cost, particularly human resources cost. Of course it is entirely possible that poor selling and/or project management have driven up the cost of implementation as well.
I have held this stock for a number of years but I will be reducing my holding.
TNE Price at posting:
75.0¢ Sentiment: Sell Disclosure: Held
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