Upping the marketing spend in 2HFY25 to depress profitability and the take-over price. FY23 increased marketing spend and depressed profit. FY24 profit increased by 26.7%. Looks like a repeat but only after Laurence owns 95%.
The effective take-over price is $4.60 because the acquisition price deducts $0.45 which shareholders should have been paid in dividends already.
The buy-back in FY23 was at $6.50, and last year the profit rose by almost 30%. Go figure
I'm sure that the Independent director got paid handsomely for that recommendation.
PE multiple of 3x - seriously
Let's hope ASIC gets involved given the lack of financial information over the past 7-8 months.
