GR,the market will not be happy until penn explains what has caused the 50% profit reduction even after compensation etc.ie again its half of tls's profit,with no signs or indication by penn profits will increase let alone be restored. It is a disgrace,as posted either thodrey or penn or both have made serious mistakes. If after thodey made nbn agreement told the market due to this nbn agreement tls's profit would fall 50% what do u think shareholder reaction would have been.? Not forgetting penn was cfo,as cfo he should have fully understand the potential risks within nbn agreement. It took penn a couple of years as ceo to tell the market that reduced nbn margins etc etc ie the nbn agreement would result in a 50% profit reduction. And not forgetting during those couple of years penn actually continued to increase div. It doesn't get much worse imo.as far as managements what appears to be lack of understanding of nbn agreement. Other side,maybe penn has simply lost control of costs.
TLS Price at posting:
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