No ..a steel tube dream down the gurgler
Not just Board but seems finance dept not that clever either
Suppose Management pretty bad as well.
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Seems weird that this magical $4m that should have been included in Cost of Sales in F18 didn’t seem to be an issue when they produced Half Year Accounts in February
Weird ....or fishy ...or just inept.
Posted 17/10/2018. As usual I made my feelings quite clear. This and FBU are poorly governed, poorly managed and chock a block full of incompetent and heavily overpaid middle management as well. Balance was touting this as a takeover target back then and talking up future EBIT as being quite achievable.
Wonder what he would say now if he wasn't still banned.
Wonder if share price will go sub $1
Even at $1.13 it’s on a PE of 17 to 18 (based on EPS of 6.5 cents)
Trade at Metro Glass multiples it would be about 60 / 70 cents
But STU a much more robust company with a new computer system.
Yes, I was just thinking, damn... Lucky I only have punting money in STU, although I was hoping it would be more than a PEB style punt, I suppose it really was meant to be nothing more than a punt after all.
Despite all the normalization, it is pretty obvious it is a downgrade.
Lucky the market never really thought STU would produce 25m normalized earnings in the first place anyway, downgrade of 30% or so yet share price has only fallen 9% so far