Gassed, if Dom never intended to be judged by Track performance then he shouldn't have bought it and borrowed circa $15M to do so. If those kind of $$$'s are going to be spent on an acquisition by a business this size, its not an impulse buy at the supermarket checkout - management should be accountable not only for doing proper DD and paying a good price (fail here on both counts) but then integrate the business and make it pay its way (jury out so far on that score).
My recollection also was this acquisition was meant to add a mature cash generator to the business, I understand the logic, but management have to show they can actually bite off a piece of pie that size and actually management to chew and swallow it without choking. Otherwise why would you give them more pie...
Cheers, Sharks.
CM8 Price at posting:
12.5¢ Sentiment: None Disclosure: Held