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Nick1970

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14/02/19

19:30

Post #: 37441360
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Originally posted by oldtimer2: ↑

So now we have some evidence that not all has been rosy at MGP and this might help explain why the share price has been so weak. I’m not sure though that this should be construed as too negative. Heather seems a nice enough chap, but was he ever really a natural leader? In my view, on the few occasions I saw him in action, he came across as somewhat arrogantly self opinionated, which can cause resentment in the ranks and turn off potential clients. He might have been better as an administration manager? Perhaps the old guard, led by Don Sharp, who still control the company, have decided a new marketing brand also requires a clean sweep with a new CEO to address it.

Oh well, might have to wait a bit longer for some real share price gains, but it has to be cheap at these levels so I am retaining my buy rating.

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Price doesn't lie - unlike executives - that's why I haven't been adding to my thankfully tiny position. Always a concern when industry peer share prices (HUB etc) are heading north and this one isn't. Been very disappointing to date. They have a couple of key clients that are expected to stick with them and now is time for action in regards obtaining new ones.

MGP Price at posting: 13.5¢ Sentiment: Hold Disclosure: Held
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