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G650er

564 Posts.

43

07/03/19

14:26

Post #: 37686367
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Originally posted by G650er: ↑

Thanks @septic1

Their math is wrong however. They took the gross profit figure of $11.3m from page 3 of the HY19 report - which is ok.
However, page 14 shows the detailed breakdown by division:

Gross revenue for the half year was: $52.999m (of which $6.2m was via grandfathered commissions)
Commissions paid was: ($41.9m)
Net revenue / Gross Profit: $11.3m

Without grandfathered commissions at 100% gross profit margin implies gross profit would decline from $11.3m to $5.1m.

This doesn't mean you have to double what you charge advisers. It simply means you have to replace $6.2m (or $12.4m for the full year), which you previously received via rebates to a new charge. As I posted earlier, this equates to $5k per Authorised Rep. Or have I got it wrong?

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It will depend on the gross margin I guess. They need $5k of gross profit per adviser.

CAF Price at posting: 11.5¢ Sentiment: Buy Disclosure: Held
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Last 29.0¢		Change -0.005(1.69%)		Mkt cap ! $62.64M

Open	High	Low	Value	Volume
29.0¢	29.0¢	29.0¢	$0	1

Buyers (Bids)

No.	Vol.	Price($)
6	51416	29.0¢

Sellers (Offers)

Price($)	Vol.	No.
31.0¢	220567	5

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No.	Vol.	Price($)
2	59500	0.105
2	131357	0.100
1	40000	0.098
1	10000	0.097
1	15000	0.096

Price($)	Vol.	No.
0.110	78674	2
0.115	14164	1
0.120	285100	5
0.125	5000	1
0.130	93361	5

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