ONT 0.26% $7.68 1300 smiles limited

Ann: Half Yearly Report and Accounts, page-27

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  1. 52 Posts.
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    I know you four guys aren't interested because "whatever way you slice the dice this is probably still the best managed medical management company in the world"" but because I don't like bullies I will break it down into bite size pieces for those who do want to hear my opinion.

    Lets ignore all the acquisitions except:
    The combined Qld practices which the MD said in his announcement on the ASX would contribute 4 million dollars per annum to revenue and the Orthodontic practices which he said would contribute 2million to revenue.
    The orthodontic practice we can assume then contributed 1million dollars as it was owned for the full half year and the Qld acquisitions were owned for 10 weeks or almost 1 quarter so lets say just under 1 million to revenue from them.

    So how much did these two acquisitions contribute to revenue in this period probably around 1.8 million or about 9.7%

    The evidence says no organic growth of the business.

    Now why go back to reemphasizing OTC revenue. Possibly these previously principal dentists in the newly acquired practices are taking home a bigger slice so OTC revenue will look better in the report than actual revenue so this is the one management highlights.
    If the OTC revenue is not growing but the management has grown revenue by decreasing what they pay the Dentists then the management will major on reporting actual revenue.
 
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