Looks to me like another big loss this year - $11.6m (before tax benefit) by my rough calcs.
YBR's margins just aren't big enough at this revenue level. They need to renegotiate with franchisees (good luck) or pull the pin. Check out the margins of Aussie and Mortgage Choice for comparison.
The break up value (loan book) is the only reason the share price is this high.
Looks to me like another big loss this year - $11.6m (before tax...
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