finch2Thanks for the numbers.I have only been PPX/PXUPA for past...

finch2

Thanks for the numbers.

I have only been PPX/PXUPA for past 12 mths so don't have the history.

The employeee numbers seem incredible, because I think PPX sold off manufacturing over that period?

So staff increased by ~ 1,400 and profit decreased by $160 mill being $100 mill (2003) and $60 mill loss (2011)

A quick analysis for 1,400 staff increase plus say 400 (pure guess)gone from manufacturing at say $80,000 p.a. (incl OH etc etc) = $145 mill !!

Would seem the growth in staff versus where it should be has had a huge impact on profit.

Note: The above analysis excludes the $ benefit achieved from removing executives, accounting, sales, HO support etc from companies taken over during the period.

In short, if the anlysis is anywhere near correct then this points to very poor management with a complete lack of profit focus resulting in an overstaffed, "fat" and unprofitable coy.

Seems more and more to me that a competitor should by PPX cheap, get rid of the fat, effectively integrate and make some good $