I used to be able to follow Watpac’s reports but now I’m sorry it’s mostly just confusing in so many ways. I wonder whether the directors, who are signing of on each one actually understand what they report. It’s not that I think the numbers are misrepresented, no it’s just that the language is obscure and exaggerated and the tables present so many tables graphs & columns to the point my head spins. Reports should be clear & simply presented so that us also ran’s can get a handle on what is happening.
There is an obvious heralding of success & a camouflaging of failure. Let’s look at the numbers in the line designated, Statutory Unallocated loss of profits in the Directors Report
The 2015 report documents a $3,848m profit
The 2016 report documents a $14,306m loss
No explanation is offered as far as I can see. Not even a twitter of what this line is about & why it’s there. Someone might know where to look Please help me out
The 2017 1st half report documents an $11,306m loss.
This time there is a flimsy explanation claiming this constitutes $3.3m in new business costs and a $2.7m gain from the disposal of property. Of course I wonder why the balance $11,957.6m loss has not rated any discussion. Someone might know where to look Please help me out.
Now I’ll be the first to admit I’m not the sharpest knife in the drawer but I have taken a few courses on how to get people on board by using simple & clear communication. Watpac’s communication is lousy and this probably contributes to their run down share price.
WTP Price at posting:
76.5¢ Sentiment: Hold Disclosure: Held
