Yes, agree with the sentiment that the decks should have been cleared of garbage at the last half. Suspect that the new management was still coming to terms with the inventory and actual state of all balance sheet items. Thus the latest clear out.
On the positive side, it was good to get an update out of the company last month so that at least investors have some insight into the health (or otherwise) of the business. I like the focus on inventory management and margins. Until they are well and truly sorted, I cannot see the new CEO getting this into the same rapid growth chaos that had troubled this company for so long. And with turn over in the order of $40m p.a., a consistent improvement in margins should see this into good stable profitability in 2-3 years. One to accumulate once you see a couple of consistent periods of profitability.
ITD Price at posting:
6.4¢ Sentiment: Hold Disclosure: Held
