Ann: Preliminary Final Report, page-3

i'm no expert on VLS, but I can't understand the continued weak sales performance. They ought to be in a sweet spot for growth from, inter alia, demand for health care, growth of asian middle class, diagou proliferation, with established product/brands and good manufacturing standards etc, yet they can't grow at all. They used to be able to, and BKL can still grow. The VLS strategy seems to be to hire more Chief Officers! O’Keefe (MD, technically), a CEO for SE Asia (Choo), and a CFO (Khoo). Oohh, and a chief Marketing officer (Perreira). All that, must really help! The Jointown agreement seems to have produced nothing so far, and a planned expansion in Malaysia has been canned (one year on because the volumes aren't there).

there is also the extra-ordinary statement that: "FY2018 will be the second year of a three-year strategic plan set by the Board whereby the Company aims to grow future revenues.". For the sake of shareholders I hope the second and third years are more successful than the first year, when the new strategy achieved sales growth of zilch! There is also the warning that higher costs will be incurred - unsurprising if the year's highlight is employing more snr management! Then there is the cost of options issued to mgmt! GLAH