Originally Posted by
Beagle
It would be good if senior management made it crystal clear what the earnings per share growth is, (if any), rather than making it all about headline profit growth. Heck I don't even mind if they use the fancy weighted average number of shares on issue to try and make it look better !
No question the company is growing but if they keep issuing so many shares year after year after year its makes the growth almost meaningless for shareholders, (probably really good for management bonus's though). This lack of projected EPS growth is quite clearly the reason the SP is underperforming. No doubt more shares to be issued this year when the convertible bonds mature. That should give them ample funds for a good team building retreat at say the Wairaki conference centre at Taupo to try and make some meaningful inroads on improving company culture. (You don't turn that sort of thing around overnight)