RE: Impairment6 Feb 2024 22:41
I'm half expecting an increase in debt given the drastic u turn on the dividend in such a short timescale, given their strict capital allocation policy, and pending deleveraging.
It was all very sudden and unexpected to do that aswell as announce a potential disposal of NA.
To be honest updates are so few and far between, who knows what the heck is going on operationally.
Personally I think management have been shocking, not only has Garat overseen such huge decline in shareholder value /returns in his tenure, but the new CFO oversaw a miscalculation in training / other costs associated with NA, which resulted in a profit Warning 10 weeks after saying everything was peachy and on track.
And then not to utter a word of encouragement or at least update us again since such a 5h1tshow in October, we're lucky it's held up quite well considering.