Incredible, Korvest announces that it will lose a small amount of amount in this period due to potential acquisition due diligence costs, I cannot recall in the history when this business lost money (not to say that it didn’t, I just can’t recall during my 23 years there).
So to be clear on the future strategy –
1. New Zealand – where a Branch was once established, then closed down under the directive of the current MD shortly after his appointment, but is now an integral part of the strategy.
2. Hong Kong – an area that was being reviewed and deemed unviable some 10-15 years ago after limited project success
3. Singapore – similarly to HK in time frame and success. Interesting, MTR is a target, (train stations), Ezystrut was supplying product to them in oh I don’t know maybe 2003?
Dubai, South Africa, what the hell are they talking about, so a handful of quotes may or may not have been issued, what does that mean, it has no bearing or measure of success unless there is a deliberate and clear understanding of ones ‘Competitive Advantage’ over ‘others’ in those territories, which there is not.
Logic now appears to be clouded by ego - Result, profit is going to the crapper!
The overseas exploitations will result in nothing more than niche sales. To take it one step further, if a ‘concise’ ‘Net Net’ review is done on these regions, it will reveal a loss to the group.
I note that closing Indax was also ‘the right thing’ according to the MD, interesting that it was under his guidance that an Indax Qld Office was established and then closed shortly thereafter.
Called me old fashioned, but we once had a mandate in Korvest, it was referred to as ‘profitable growth’, ah the good old days!
Just as curious is the absence of Directors buying up shares as this price, not much of an endorsement for the future strategy, the only large parcels held are by them are the ‘freebies’, ie share options granted.
Anyway, what the hell would I know! Allow me to leave you with this unrelated quote
Dunning Kruger Effect: Dunning Kruger is a cognitive bias in which unskilled people make poor decisions and reach erroneous conclusions, but their incompetence denies them the metacognitive ability to recognise these mistakes.
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