f07 result, page-5

After reading their latest announcements, there is only one conclusion I can make about this board.

They're incompetent.

I know some people might think that's harsh, but I don't like the fact that the board continue to blame management for the poorly running of this business. Who put all the senior managers there? The board !!! Who's head at board level has been put on the block? No one.

Roger Flynn is the chairman, but also a director of another dog business - Hills Industries. These small strap-on conglomerate business models do no work, what synergies have they got? A computer system? oh please, we've seen that debacle for 5 years?

So what now?

This board should have the heart to acknowledge the fact this model is finished and sell the rest of the rubbish they have and send shareholders a cheque.

Pep