Yes - expect less disclosure not more! Clearly LE doesn't care about the share price in the short- or medium-term. He's alright!!!
Moving to one set of audited accounts per annum. So for the interim results, we might get an update reporting Revenue and Profit (and nothing in between). We won't know until Apr25, but it was couched as being able to utilise less of the Finance team's resources.
Really interesting response to a question on dividends. Compared to ASX listed companies, VGW is in the top quartile with respect to dividend yield! (or words to that effect) Suggests that LE won't deliver a payout ratio of 80-85% resulting in large amounts of cash building up within VGW. So by the end of FY25 cash per share could represent 35% of the share price.
Could LE take the company private cheaply partially using cash on hand? He seems to hate the scrutiny from the AFR and shareholders and their pesky questions (which as usual get sanitised non answers but more questions this year as ever. A number around the business model.)
LE still positive but clearly VGW's success is driving near-competitors to make lots of noise.
